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India’s Exports In January 2026 Rise 13.2% To $80.45 Billion; Imports Jump 18.8%
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India’s overall trade deficit nearly doubles to $10.38 billion in January 2026 from $5.39 billion in January 2025.
India’s merchandise exports edged up from $36.34 billion to $36.56 billion.
India’s combined merchandise and services exports rose 13.16 per cent year-on-year to $80.45 billion in January 2026, up from $71.09 billion in the same month last year, according to data released by the commerce ministry on Monday. However, imports expanded at a faster pace of 18.77 per cent, climbing to $90.83 billion from $76.48 billion a year earlier.
As a result, the country’s overall trade deficit nearly doubled to $10.38 billion in January 2026 from $5.39 billion in January 2025.
During the month, both merchandise and services trade recorded gains. Merchandise exports edged up from $36.34 billion to $36.56 billion, while services exports showed strong growth, rising from $34.75 billion to $43.90 billion.
April-January trade performance
Commerce Secretary Rajesh Agrawal said that for the first 10 months of the financial year (April-January), India’s combined exports are estimated at $720.76 billion, compared with $679 billion in the corresponding period last year, a growth of 6.15 per cent, or roughly $40 billion.
“This year, we expect to cross $860 billion in total exports of merchandising and services. In services, we expect to cross $410 billion this year (2025-2026),” said Agrawal.
India’s total exports had reached a record $824.9 billion in FY2024-25, registering a 6.01 per cent rise from $778.1 billion in 2023-24 and surpassing the earlier projection of $800 billion.
Imports trend higher
Overall imports during April-January 2025-26 increased 6.54 per cent year-on-year to $823.41 billion, compared with $772.85 billion in the same period of the previous fiscal.
Merchandise imports stood at $649.86 billion, up 7.21 per cent from $606.13 billion a year earlier, while services imports rose more modestly by 4.10 per cent to $173.55 billion from $166.72 billion.
The latest data underscores a widening trade gap driven by faster import growth, even as exports continue to expand and remain on track for another record year.
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New rail tech policy in works; India eyes major boost for domestic manufacturing – The Times of India
India plans to unveil a new “rail tech” policy in the coming weeks to boost domestic manufacturing of next-generation railway technology and equipment. Under the proposed framework, the Railway Board is expected to offer partial funding, technical support, and access to testing facilities to manufacturers. The policy is part of the government’s rail modernisation drive and aims to reduce dependence on imported railway technology, including from China.“A new Rail Tech policy will give much needed impetus to innovation for mass transport,” a senior official told ET, noting that is would encourage collaboration between domestic firms and research institutions. India’s imports of railway and tramway locomotives, rolling stock, and equipment stood at about Rs 6,098 crore in FY25, with locomotive components forming the bulk of the import basket, reflecting reliance on imported sub-systems.Trade data and project reports for 2024–25 estimate that around 55% of railway component imports are for Indian Railways, with 45% for metro and rapid rail systems. Imports account for a limited share of India’s overall railway component requirements. The FY27 Union Budget allocated Rs 52,108.73 crore for rolling stock capital expenditure, up from Rs 50,007.77 crore this fiscal year, primarily for new locomotives, coaches, including Vande Bharat train sets, and wagons as part of fleet modernisation.The government’s proposed rail technology policy builds on the Indian Railway Innovation Policy launched in June 2022, which offered grant support of up to Rs 1.5 crore on a 50:50 cost-sharing basis for startups and smaller companies to develop functional prototypes. The earlier policy focused on improving safety, efficiency, and maintenance, and provided innovators with ownership of their solutions, access to a secure testing environment, and assured procurement for successful low-cost technologies.India plans to be entirely self-sufficient in building seven new bullet train networks, the railway minister said. Currently, China dominates India’s railway equipment imports, followed by Germany and Austria for engineering systems, and the US and Japan for specialised propulsion and signalling components.
After the rollercoaster ride in international bullion markets, the value of gold reserves of State Bank of Pakistan (SBP) has now skyrocketed to over 10 billion dollars.
The State Bank released details regarding the country’s gold reserves, revealing that the total value of the 64.76 tons of gold reserves stood at $10.374 billion.
According to the SBP, the value of Pakistan’s gold reserves increased by $1.279 billion in January 2026.
Over the first seven months of the current fiscal year, the country’s gold reserves have grown by $3.5 billion.
In June 2025, the value of Pakistan’s gold reserves was recorded at $6.84 billion.
The data also indicates that the country holds 20,82,000 ounces or approximately 5.5 million tolas of gold in reserves.
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