India’s merchandise trade deficit in June is $30.4 billion, as imports grow faster than exports, according to reports citing government trade data. The June deficit is $30.4 billion. One source says June exports rise 7.3% year-on-year, pointing to continued export growth. Another source reports exports increase 15.5% year-on-year in June, while imports surge 31% year-on-year, contributing to the larger gap between imports and exports.
The figures also show pressure on the broader quarter. During the April–June period, exports rise 15.92% year-on-year, while imports increase 19.89% year-on-year, widening the deficit over the quarter. Across the sources, the common theme is that exports expand, but imports expand more quickly in both June and the April–June quarter, driving the deficit higher. The Commerce Secretary’s comments, as reported, emphasize that export performance remains strong even as the trade balance deteriorates due to faster import growth.
