Page 20 - Policy Economic Report - March 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

the value of other currencies held by the central bank. India’s foreign exchange reserves also include the
country’s Special Drawing Rights (SDRs) and its Reserve Tranche Position with the International
Monetary Fund.

As per RBI data, foreign currency assets stood at $563.25 billion during the week ended March 6, while
gold reserves were valued at $130.02 billion. SDRs were recorded at $18.72 billion, and the Reserve
Tranche Position at $4.83 billion, bringing the total reserves to $716.81 billion. The previous week’s
figures showed foreign currency assets at $573.13 billion, gold reserves at $131.63 billion, SDRs at
$18.87 billion, and the Reserve Tranche Position at $4.87 billion, with total reserves at $728.49 billion.

India’s foreign trade position

? India’s total exports (Merchandise and Services combined) for February 2026 is estimated at
US$ 76.13 Billion, registering a growth of 11.05 percent vis-à-vis February 2025.

? Total imports (Merchandise and Services combined) for February 2026 is estimated at US$ 80.09
Billion, registering a growth of 21.64 percent vis-à-vis February 2025.

Table 1: Trade during February 2026

February 2026 February 2025

(USD Billion) (USD Billion)

Merchandise Exports 36.61 36.91

Imports 63.71 51.33

Services Exports 39.53 31.65

Imports 16.38 14.51

Total Trade Exports 76.13 68.56
80.09 65.84
(Merchandise + Services)

Imports

Trade Balance -3.96 2.72
Source - Ministry of Commerce & Industry

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