Q1. With reference to India's foreign trade performance in FY 2025-26 as released by the Commerce Ministry on 15 April 2026, consider the following statements:\n1. India's total exports of merchandise and services together reached US$ 860.09 billion, an estimated 4.22% growth.\n2. India's services exports in FY 2025-26 grew faster than its merchandise exports.\n3. India's overall trade deficit (goods plus services) narrowed in FY 2025-26 compared to FY 2024-25.\nWhich of the statements given above are correct?
Explanation
Statements 1 and 2 are correct: total exports were US$ 860.09 billion (4.22% growth), and services exports grew 7.94% versus merchandise exports growing 0.93%. Statement 3 is incorrect: the overall trade deficit (goods plus services) widened to US$ 119.30 billion in FY 2025-26 from US$ 94.66 billion in FY 2024-25, as imports rose faster than exports.