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India's October trade deficit hits one-year high of $39.88 billion as gold imports jump
NEW DELHI: India’s merchandise trade deficit widened to a one-year high of $39.88 billion in October, exceeding forecasts as festive-season gold purchases and higher energy costs drove up imports. The deficit topped the $32.25 billion forecast in a Reuters poll and widened from $30.21 billion in September. The trade deficit last hit a record $42.58 billion in October 2025. Gold imports more than tripled to $5.51 billion from $1.8 billion in September, as jewellers and consumers stepped up purchases ahead of the Diwali festival, when buying gold is considered auspicious. India, the world’s seco...
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