NEW DELHI, Dec 15 (Reuters) - India's merchandise trade deficit (INTRD=ECI) , opens new tab narrowed to $24.53 billion in November, driven by fall in gold, oil and coal imports, government export and import data released on Monday showed.

Economists had expected the November trade deficit to be $32 billion, according to a Reuters poll, compared to a record deficit of $41.68 billion in the previous month.

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Indian Prime Minister Narendra Modi's administration has rolled out measures including consumer tax cuts, an export promotion package and labour reforms to cushion the economy from the impact of steep U.S. tariffs.

Modi spoke with U.S. President Donald Trump last week following a U.S. trade delegation's visit as New Delhi seeks relief on key export lines.

Meanwhile, Washington is pushing India to lower tariffs and non-tariff barriers on U.S. goods and open its market to American farm products, including soybean and grain sorghum.

https://www.reuters.com/world/india/indias-trade-deficit-narrows-2453-billion-november-2025-12-15/