India's trade deficit widens to 5-year high in June
Indiaâs trade deficit widened to its highest in over five years in June driven largely by a surge in oil imports, the Commerce Ministry said on Friday. It widened to $16.6 billion due to a rise in oil imports that surged 56.61% to $12.73 billion. Further, merchandise exports last month rose 17.57% to $27.7 billion from a year ago.