India's Record Trade Deficit SHOCKS Markets! Gold Imports Soar, Exports Tumble – What's Next for the Rupee?

Overview

India's goods trade deficit hit an all-time high of $41 billion in a single month, primarily due to a $14.7 billion gold import bill and persistent oil import costs. Despite a services surplus, the overall deficit widened significantly. Falling exports and continued foreign fund outflows are raising concerns about the current account and putting pressure on the Indian Rupee.