Overview

• The merchandise gap widened to $32.15 billion in September, the highest in 11 months and far above a $25.13 billion forecast.
• Imports jumped to $68.53 billion, led by gold, silver, fertiliser and electronics as seasonal buying lifted inflows.
• Exports rose 6.75% year on year to $36.38 billion even after 50% U.S. tariffs took effect on August 27.
• Government estimates show services exports of $30.82 billion versus $15.29 billion of services imports, implying a $15.53 billion services surplus.
• New Delhi is advancing talks in Washington on a trade package that features higher U.S. energy purchases, while textile exporters report cancellations and inventory pileups.