India's Import Bill Shrinks, Narrowing September Trade Gap

In September 2024, India’s trade balance showed signs of improvement as the deficit narrowed to $20.78 billion, lower than economists’ expectations of $24.63 billion. This positive shift was largely attributed to reduced gold imports, which helped moderate the overall import bill. Despite global economic challenges, India’s exports maintained a slight growth, with sectors like engineering goods, plastics, and pharmaceuticals performing well.