India's trade deficit narrowed to $19.8 billion in December, a three-month low, as global demand for India's electronics and engineering goods rose while falling commodity prices eased imports. Goods exports rose 0.96% on-year, reaching $38.45 billion, while imports shrank 4.8% to $58.25 billion. The country's exports are performing well in volume terms, but the impact of the Red Sea crisis on value terms remains uncertain.