India's trade deficit widens to $28.38 billion in April 2026
Business
India's trade deficit hit $28.38 billion in April 2026, much higher than expected and up from $20.67 billion in March.
The main reason? Merchandise exports dropped by 14% while imports stayed high at nearly $72 billion, putting extra pressure on the economy right as the new fiscal year kicked off.
Services drive India's exports above 13%
Even with goods exports down, India's total exports (goods and services) actually grew more than 13%, reaching $80.8 billion, thanks mostly to a strong showing from the services sector.