India’s Trade Deficit Widens in July Amid Export Slump

India's Trade Deficit Widens in July

India's trade deficit reached a substantial $23.5 billion in July, surpassing economists' predictions of $21.35 billion. This marks an increase from June's deficit of $20.98 billion, according to the latest government data. A trade deficit occurs when a country's imports exceed its exports in value, indicating more money leaving the country to purchase foreign goods than coming in from export sales.