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Indian trade: Mechandise exports decline in May; trade deficit narrows to $6.62 billion
India's exports reached $71.12 billion in May 2025, a 2.77% increase year-over-year, driven by strong services exports which rose to $32.39 billion. While merchandise exports saw a slight dip, the overall trade deficit narrowed to $6.62 billion. During the initial two months of FY26, exports grew by 5.75%, and India's total exports in 2024-25 hit a record $824.
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