India's Trade Deficit Widens to $30.4 Billion in June on Import Surge

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India's merchandise imports jumped 31% year-on-year in June, significantly outpacing export growth of 15.5% during the same month. The resulting trade deficit for June stood at $30.43 billion. Exports showed steady momentum in the April-June quarter, rising nearly 15.92% compared to the previous year. However, imports during the same quarter grew faster at 19.89%, further widening the trade gap. The divergence between import and export growth rates has put pressure on India's overall trade balance.

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