India merchandise trade gap hits a 5-month high in June on oil bill surge amid war, exports rise 15.5%
India's merchandise trade deficit reached a five-month high of $15.32 billion in June, driven by a 40% surge in petroleum imports to $19.33 billion. While exports rose 15.5% year-on-year to $40.41 billion, imports increased by 31% to $70.84 billion, reflecting significant growth in sectors like gems and jewellery and engineering goods. The overall trade figures indicate a growing imbalance, with total exports including services at $73.45 billion and total imports at $88.76 billion.