India’s June trade deficit narrows to $18.78 billion, below forecasts, as imports drop despite exports hitting a 7-month low.

• Goods exports fell to $35.14 billion, down 9% monthly, affected by lower crude oil prices and weak global demand.
• Imports declined sharply to $53.92 billion, led by lower crude oil and gold imports compared to May levels.
• April-June goods exports rose 1.9% YoY; services trade surplus reached $15.62 billion, with strong service exports.