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India's August goods trade deficit narrows as gold imports plunge
NEW DELHI: India’s goods trade deficit unexpectedly narrowed to $26.86 billion in August, government data showed on Tuesday, as imports, particularly of gold, fell sharply to make up for a slip in exports from the previous month. The fall in the import bill coincided with an intensifying U.S.-Iran conflict, disrupting oil supplies and shipping, adding to inflation risks in India, the world’s third-largest oil importer and Asia’s third-largest economy. New strikes on Saudi Arabia and on ships in the Gulf are testing nerves in the Middle East, after an attack on a Saudi oil pipeline and an advan...
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