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2026.05.1509:34:02UTC+00India Trade Deficit Rises to April Record

India’s trade deficit widened to $28.4 billion in April 2026 from $27.1 billion a year earlier, marking the largest gap ever recorded for the month and exceeding forecasts of a $27 billion shortfall, as imports surged. Imports rose 10% year-on-year to $71.9 billion, the highest level on record for the period, driven by sharply higher prices for oil, fuel, and coal amid the ongoing conflict in the Middle East. The strong increase in import demand continued to weigh on the rupee, prompting the RBI to step in to curb the currency’s decline. At the same time, higher goods prices also boosted exports, with outbound shipments climbing 13.8% to $41.6 billion, the second-highest figure on record and the strongest ever for April.

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