India’s Trade Gap Widens in August as Exports Slow
- Gold import triples to $10.06 billion in August from July
- Exports is a huge challenge, says Commerce Secretary
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India’s trade deficit widened unexpectedly in August as a weakness in global demand slowed exports, while imports, particularly of gold, climbed ahead of the festive season.
The gap between exports and imports stood at $29.65 billion in August, Trade Ministry data showed Tuesday. That compares with a $22.8 billion deficit forecast by economists in a Bloomberg survey and a reading of $23.5 billion in July.