New Delhi, Oct 15 (NationPress) India's merchandise exports in September saw a remarkable rise of 6.75%, reaching $36.38 billion compared to the same month last year, despite the punitive tariffs imposed by the US, as reported by the Commerce Ministry on Wednesday.

The exports in September also surpassed the month-on-month figures, increasing from $35.1 billion in August.

"This year has been quite challenging for trade given global developments concerning supply chains and market access. Nevertheless, total exports have exceeded last year's figures by $18 billion. Non-petroleum exports reached a record $189.49 billion during the first half of FY26," stated Commerce Secretary Rajesh Agarwal.

However, imports surged at a faster pace than exports, driven by rising demand ahead of the festive season.

The increase in imports for September 2025 surpassed that of exports, with gold, silver, fertilizer, and electronics leading this surge. The demand for fertilizers has been particularly strong this year, contributing to the higher import figures," explained Agarwal.

Total goods imports climbed to $68.53 billion in September from $61.59 billion in August, according to the data.

The government estimated services exports in September at $30.82 billion and imports at $15.29 billion, suggesting a total trade surplus in goods and services of $15.53 billion.

Meanwhile, negotiations between India and the US are progressing towards finalizing the first phase of the proposed Bilateral Trade Agreement (BTA), with a team of Indian officials set to travel to Washington this week for further discussions, as per government officials.

"Discussions between the two nations are advancing positively," noted a government representative.

India has proposed to boost imports of oil and gas from the USA to help balance the trade surplus, while also diversifying its energy sources to ensure a stable supply amid geopolitical uncertainties.

Moreover, India is likely to procure more renewable energy technologies from the US as part of the trade agreement, aiding the country in its fight against climate change.

This development coincides with the recent appointment of new US ambassador Sergio Gor at the US Embassy in New Delhi.

Gor met with Prime Minister Narendra Modi last week to discuss bilateral matters including defense, trade, and technology. The significance of critical minerals for both nations was also a key topic during their meeting.

"The US values its relationship with India, and under the strong leadership of President Donald J. Trump and Prime Minister Modi, I am optimistic about our future together. President Trump considers Prime Minister Modi a close personal friend. In fact, just before my departure for New Delhi, they had a remarkable phone call, and I anticipate continued dialogue in the coming weeks and months," Gor stated.