India’s import burden started climbing in April 2026, with the country’s merchandise trade deficit widening to $28.4 billion, compared with nearly $27 billion in April 2025 and $20.7 billion in March 2026. The expansion in the deficit came as import growth outpaced the increase in exports, notes HDFC Bank in an analysis.

India's April exports rose 13.78% to $43.56 billion, while imports increased 10% to $71.94 billion, widening the trade deficit.

India's trade deficit widened to $28.38 billion in April as imports surged, raising concerns over inflation and economic growth.

India's April goods exports rise 13.8% to $43.56 billion, while imports increase 10%, leading to a $28.38 billion trade deficit.