Shocking for Indian Trade which deficit hit its highest at $31 billion in July

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In June the Trade Deficit was $26.18 billion

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It was $10 billion in the same period last year.

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Impact of Export fallen on some Petroleum such

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Engineering goods Deficit by 2.5 percent

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Non-oil exports such as gems and Jewellery by 5.2 percent

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Drugs and pharmaceuticals by 1.4 percent

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Handloom products deficit by 28.3 Percent

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Decreasing Global Demand is the factor for increasing the Trade Deficit

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Now the Indian Trade deficit to widen from to present $115 billion for FY23

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Recession in the US, Europe, UK, Japan, South Korea, Australia, and Canada are leading growth slowdown

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