India’s merchandise trade deficit widened to $27.35 billion in July, up sharply from $18.78 billion in June, provisional data from the commerce ministry showed on Thursday.
Exports fell to $37.24 billion last month, while imports rose to $64.59 billion. Economists polled by Reuters had expected the July gap to be $20.35 billion.
The deterioration in the trade balance comes as Indian exporters face renewed headwinds from the United States, with President Donald Trump’s proposed 25% additional tariff on Indian goods set to take effect on August 27 unless a deal is reached during the ongoing 21-day negotiation window.
Content Source: economictimes.indiatimes.com