India’s October Trade Gap Hits Record as Festival Gold Buying and U.S. Tariffs Reshape Flows
India’s merchandise trade deficit widened to an unprecedented $41.7 billion in October, eclipsing the previous peak of $37.8 billion set in November 2024. Commerce ministry data released Monday show that a surge in gold imports during the festive period and weaker shipments to the United States were the primary drivers of the shortfall, well above the Reuters consensus forecast […]