India's trade deficit hits 5-month high as imports surge

India's trade deficit climbed to its highest level in five months as imports skyrocketed, outpacing export growth. The surge was primarily driven by significant increases in crude oil and fertilizer imports, which have seen substantial year-on-year expansions. While electronics and engineering goods exports grew, they couldn't keep up with the escalating import costs. This trend could lead to a wider current account deficit for the fiscal year, raising concerns about India's economic balance and the impact on its currency and inflation rates.