India Trade Deficit Hits Six-Month High
India's merchandise trade deficit widened to 31.98 billion dollars in July as higher oil prices and rising electronics imports drove up costs. Global shipping disruptions and Middle East conflict further squeezed exporter margins.
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India's merchandise trade deficit widened to a six-month high of $31.98 billion in July as surging Gold and electronics imports collided with Middle East shipping disruptions. The gap exceeded the $30.20 billion consensus forecast in a Reuters poll, surpassing June's $30.43 billion shortfall. The widening trade deficit places renewed pressure on the rupee and foreign capital inflows.
