India’s June trade deficit narrows to $18.78 billion, services surplus stays stron

India’s merchandise trade deficit narrowed to $18.78 billion in June, surpassing market forecasts and improving from May’s figures, driven by decreased exports and imports. Merchandise exports reached $35.14 billion, while imports totaled $53.92 billion. The services sector contributed a strong surplus of $15.62 billion, with exports at $32.84 billion and imports at $17.58 billion.