India’s October Trade Deficit Reaches Record High as Imports Rise and Exports Stall

India recorded its highest-ever monthly trade deficit in October, driven by a surge in imports and stagnant export growth. Economists noted that elevated crude oil purchases and machinery imports widened the deficit sharply. The imbalance may impact the rupee’s near-term trajectory and influence monetary policy considerations. Exporters cited weak global demand as a key challenge, while analysts warned that continued import strength without matching export momentum could pressure external balances in coming quarters.