India's merchandise trade deficit in November widened to a record level, led by a surge in gold imports, while exports fell due to weaker global demand. The merchandise trade deficit in November stood at $37.

India’s trade deficit expanded to a record high in November, as the nation’s import bill ballooned, particularly due to a rise in gold shipments.

India's imports from the UAE significantly increased by 109.57% year-on-year, resulting in a trade deficit exceeding USD 3 billion in November. The bilateral trade between the two nations reached USD 83.

India's trade deficit hit a record $37.84 billion in November, driven by gold imports and declining exports, pressuring the rupee further.

India's merchandise trade deficit in November stood at $37.84 billion, according to a Reuters calculation based on export and import data released by the government on Monday. Economists had expected the country's November trade deficit to be $23.