India's Trade Deficit Surges in July

India’s merchandise trade deficit widened to $27.35 billion in July, well above the $20.35 billion expected by economists and higher than $18.78 billion in June, government data showed on Thursday.

The gap was driven by an 8.6% jump in imports to $64.59 billion, outpacing a 7.3% rise in exports to $37.24 billion.

In the April–July period, exports to the United States rose to $33.53 billion from $27.57 billion a year earlier.

The release came days after US President Donald Trump imposed an additional 25% tariff on Indian goods, taking total levies on shipments to 50% amid criticism of Delhi’s continued purchase of Russian oil.

Cumulative exports for the first four months of the fiscal year increased

3.07% to $149.2 billion, while imports grew 5.36% to $244.01 billion.

Also Read: India's sovereign rating upgraded by S&P Global to BBB; outlook stable