Chinese imports to India were nearly double that of Russia and about 2.5 times more than imports from the UAE during the period.

India’s trade deficit widened significantly in October as imports climbed during the Hindu festival season, even though exports posted robust growth.

India's imports from UAE jumped by 70.37% to USD 7.2 billion in October, leaving a trade deficit of USD 3.5 billion. The FTA between India and UAE came into effect in May 2022.

India's merchandise trade deficit in October widened more than expected to $27.14 billion, driven by a surge in imports, trade data released by the government on Thursday showed. Economists had expected the country's October trade deficit to be $22 billion,

Despite the volatile global atmosphere, Indian exporters have been able to overcome that situation and deliver, Commerce Secretary Sunil Barthwal said.

The trade deficit was widened to USD 27.14 billion. Imports increased by 3.9% to USD 66.34 billion in October compared to USD 63.86 billion in the year-ago period.

India's merchandise trade deficit in October widened more than expected to $27.14 billion, driven by a rise in imports despite exports increasing year-over-year.

India’s total exports (merchandise and services combined) for October 2024 are estimated at $73.21 billion, registering a growth of 19.08 per cent vis-a-vis October 2023.