India’s trade data indicates strength in November 2025. The trade deficit declined by more than 61% this month to $6.6 billion. The main reason for this was the sharp increase in exports and slowness in imports.

Total exports increased by 15.5% to $74 billion, while imports declined to $80.6 billion. Merchandise exports increased by 19.4% to $38.1 billion.

According to the Commerce Secretary this is the best November performance of the decade. Despite America’s 50% tariff, exports there grew by 22.6%. Services exports also increased by 12% to $38.5 billion.