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India’s goods trade deficit widens
NEW DELHI: India’s merchandise trade deficit widened to USD30.21 billion in September as the rise in imports outpaced that in exports, though a rise in outbound shipments and trade deals could narrow the balance over coming months. The trade gap has widened as Asia’s third-largest economy grapples with a prolonged Iran war that has made energy costlier, hurt shipments to the Middle East and battered markets. India raised interest rates earlier this month and announced a raft of measures to support the rupee. India’s trade deficit stood at USD26.86 billion in August. Merchandise exports rose to...
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