India merchandise exports hit record $44.24 billion for July, trade deficit widens
India's merchandise exports reached a record $44.24 billion in July, driven by strong demand in engineering and petroleum sectors. However, imports rose 19.27%, leading to a trade deficit of $118.6 billion for the April-July period, up from $96.66 billion last year. The trend raises concerns about the sustainability of export growth amid rising import costs.