India's trade deficit rises to 56-month high in January
India's trade deficit, the gap between exports and imports, was its widest in over four-and-a-half years, led by a surge in imports of precious stones and crude. The deficit stood at $16.3 billion, 64.54% higher from a year ago with 26.1% increase in merchandise imports and 9.07% increase in merchandise exports. Import of precious stones rose 55.7% and petroleum 42.6%.