India's trade deficit narrows to $14.05 billion

India's trade deficit decreased to $14.05 billion in February, down from $22.9 billion in January. This change was better than the expected $21.65 billion deficit. The reduction was mainly due to a slowdown in the Non-Oil-Non-Gold segment. Concerns over proposed U.S. tariffs, set to begin on April 2, have impacted India's exports. The U.S. is a key market for Indian goods, and potential tariff hikes could significantly affect trade dynamics. Analysts warn that India could face annual losses of around $7 billion if tariffs are implemented. India's average import tariffs are higher than those of the U.S., which may further complicate trade relations.