India Trade Deficit Widens to 28.38 Billion Dollars
India's trade deficit reached 28.38 billion dollars in April as conflict raised energy costs. The government urged conservation to protect its foreign reserves.
India's merchandise trade deficit widened to $28.38 billion in April as the conflict in Iran disrupted energy imports. The gap exceeded the $26.5 billion forecast by a Reuters poll and rose from $20.67 billion in March. A widening deficit puts further pressure on the rupee, which is currently the worst-performing currency in Asia this year.
### Energy Shocks Drive Import Surge Merchandise imports climbed to $71.94 billion in April, up from $59.59 billion in March. Government data showed that the ongoing Middle East conflict has made energy shipments more expensive while hindering outbound logistics.
