India's August trade deficit widens to $29.65 bn after imports hit all-time high of $64.36 bn

In August, India's trade deficit widened to $29.65 billion from $24.2 billion a year earlier, surpassing July's deficit of $23.50 billion. Merchandise exports fell to $34.71 billion from $38.28 billion last August, while imports hit a record $64.36 billion, up from $62.30 billion a year ago. Economists had forecast a $23 billion deficit for August.