India's Trade Deficit Widens, Gold Imports Fall in September

India's merchandise trade deficit widened to $30.21 billion in September from $26.86 billion in August, driven by imports of $74.61 billion against exports of $44.40 billion. Gold imports, a key component, fell to $1.8 billion from $2.3 billion in August, marking a 27.32% year-on-year drop in H1 FY26/27 to $19.27 billion. This coincided with Brent crude futures above $100 amid the US-Iran conflict, adding to India's inflation risks and prompting rate hikes.