<h1>India's Merchandise Exports Hit Record USD 417.81 Billion in FY 2021-22, Imports Surge, Trade Deficit Widens.</h1> India's merchandise exports reached a record high of USD 417.81 billion in FY 2021-22, marking a 43.18% increase from the previous year. Monthly exports exceeded USD 40 billion for the first time in March 2022. Imports in March 2022 were USD 59.07 billion, leading to a trade deficit of USD 18.69 billion. The fiscal year saw total imports of USD 610.22 billion, a 54.71% rise from the prior year, resulting in a trade deficit of USD 192.41 billion. Key export commodities included engineering goods, petroleum products, and gems and jewelry.