India’s trade deficit widens 31.5% to $15bn in July; electronics exports surge 11-fold

In July, India faced a significant expansion in its trade deficit, as imports surged ahead of exports. Over the first four months of the fiscal year, cumulative trade gaps widened considerably. Nevertheless, merchandise exports reached impressive heights in July, with electronics manufacturing emerging as a crucial growth sector. Additionally, the rise in mobile phone production and exports contributed to significant employment opportunities.