What was India's trade deficit with the US in January?

India's merchandise trade deficit with the US stood at $22.99 billion in January, which aligned with economists' expectations. This deficit occurred despite overall positive growth in bilateral trade relations, which has increased by 8% to over $106 billion in just ten months. India's merchandise exports to the US have risen to $68.47 billion during this period, showing strong trade performance. Looking ahead, both nations are working toward a trade deal by fall 2025, with an ambitious target of reaching $500 billion in bilateral trade by 2030.