{
  "id": 15306827,
  "title": "India’s goods trade deficit widens",
  "url": "https://urgent.news/2026/10/17/indias-goods-trade-deficit-widens",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-17T23:53:26.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40444743/indias-goods-trade-deficit-widens"
  },
  "original_language": "en",
  "account": "India's goods trade deficit widened to USD30.21 billion in September, as imports surpassed exports, though a rise in outbound shipments and trade agreements could help narrow the gap in the future. The growing deficit is attributed to the prolonged Iran war, which has driven up energy costs, hampered shipments to the Middle East, and shaken markets. India increased interest rates this month and introduced several measures to support the rupee. Merchandise exports grew to USD44.40 billion in September from USD43.81 billion in the previous month, while imports climbed to USD74.61 billion from USD70.67 billion. Export growth was widespread, driven by sectors such as petroleum products, meat, dairy, poultry, electronic goods, handicrafts, and engineering goods, said Trade Secretary Rajesh Agrawal. India aims to diversify its export destinations, with a trade deal with New Zealand set to begin next week and an agreement with the UK already in place, while a wider deal with the EU is nearing implementation. Agrawal indicated that talks with the US were heading in the right direction, with legal work underway, and expressed hopes of concluding and signing the trade deal as soon as possible. Negotiations focus on securing preferential market access and enhanced tariff stability under the proposed agreement. Relations with the US have been strained this year due to disputes over President Donald Trump's claims of facilitating an India-Pakistan ceasefire and a US military attack on a ship off Oman that resulted in the death of three Indian seafarers. The US remains India's largest export market, with goods exports totaling USD50.81 billion from April to September, up from USD45.82 billion in the previous year. India's services exports reached USD36.35 billion in September, while imports amounted to USD19.44 billion, according to trade ministry estimates. Overall, goods and services exports increased by 13.84 percent year-on-year to USD476.20 billion from April to September compared to the same period last year, while imports rose by 15.68 percent to USD551.13 billion.",
  "summary": "NEW DELHI: India’s merchandise trade deficit widened to USD30.21 billion in September as the rise in imports outpaced that in exports, though a rise in outbound shipments and trade deals could narrow the balance over coming months. The trade gap has widened as Asia’s third-largest economy grapples with a prolonged Iran war that has made energy costlier, hurt shipments to the Middle East and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Canada races to seal India trade pact by year-end, deepen EU ties",
        "url": "https://urgent.news/2026/10/17/canada-races-to-seal-india-trade-pact-by-year-end-deepen-eu-ties",
        "published": "2026-10-17T23:53:26.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}