India's trade gap has unexpectedly widened, putting further pressure on India as it struggles with a weakening local currency and the threat of-for-tat tariffs from the United States. Commerce Department data showed the gap between exports and imports reached $23 billion in January.
Exports fell 2.4 percent in January to $36.43 billion from a year earlier, the data showed. Imports rose 10.3 percent to $59.42 billion. The growing deficit could put pressure on India's currency, where the rupee has depreciated 1.4 percent against the dollar since the start of the year.
Source (Al-Khaleej Emirati Newspaper, Edited)
