India’s trade deficit widens to $28.38 billion in April as imports jump 10%; Middle East shipments fall 31.6%

India’s merchandise trade deficit surged to $28.38 billion in April, driven by a 10% rise in imports despite a significant drop in shipments from the Middle East. Elevated crude oil prices and global supply disruptions contributed to increased import costs, raising concerns about the external sector and the rupee’s stability.