India's June trade deficit hits $30.43 billion despite export growth
Business
India's trade deficit grew to $30.43 billion in June 2026, up from $28.21 billion in May, mainly because imports outpaced exports.
Still, exports jumped 15.5% from last year, reaching $40.41 billion, thanks to bigger petroleum shipments and stronger ties with Gulf countries.
India's Gulf exports reach $5.3 billion
Exports to Gulf nations more than doubled this spring after India switched up its shipping routes, hitting $5.3 billion in May.
On top of that, a new UK trade deal kicks off this month and an EU agreement is on the horizon for next year.
With oil prices easing after an interim U.S.-Iran peace deal and the rupee staying weak (which actually helps exporters), experts like Goldman Sachs are now predicting India's economy could grow even faster by 2026.