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 merchandise trade deficit widened sharply to $28.38 billion in April as imports rose 10 per cent year-on-year despite a steep decline in inbound shipments from Middle East…

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.