India vows to buy more industrial goods from US
Tuesday, 18 February 2025
NEW DELHI, Feb 17 (Reuters): India on Monday vowed to buy more industrial goods from the United States, days after Prime Minister Narendra Modi's US visit, while data showed the South Asian country's merchandise trade deficit stood at $22.99 billion in January, in line with expectations.
Economists had estimated the January trade deficit to be $22.35 billion, according to a Reuters poll.
Merchandise exports in January stood at $36.43 billion compared with $38.01 billion in December 2024. The imports for the month were $59.42 billion, while they were at $59.95 billion the month prior.
"Electronics goods (are) driving exports, followed by drugs, pharmaceuticals and rice," Trade Secretary Sunil Barthwal told reporters in New Delhi. Services exports in January were estimated at $38.55 billion and imports at $18.22 billion against $32.66 billion and $17.50 billion.