India: Trade Deficit Rises to April Record.

The trade deficit in India widened to $28.4 billion in April of 2026 from $27.1 billion in the corresponding period of the previous year, the highest on record for the period and above estimates of a $27 billion gap amid a surge in imports. Imports jumped by 10% annually to $71.9 billion, the highest on record for the period, lifted by the surge in oil, fuel, and coal prices due to the war in the Middle East. The jump in foreign purchases continued to pressure the rupee, forcing the RBI to tame the currency's decline. Meanwhile, higher goods prices also lifted exports, with foreign sales rising 13.8% to $41.6 billion, the second highest reading on record and the highest for the period.