India's May Trade Gap Narrows as Exports Rise

©iStock/ADITCHAROENKUL 

India's merchandise trade ⁠deficit ⁠narrowed marginally in May as higher exports ⁠offset part of the import bill, while firms navigated volatile energy prices, Middle East disruptions and ​ongoing trade negotiations with the United States.

The data underscores pressure on India to sustain exports and contain import costs as ​it seeks greater U.S. market access, with April-May goods exports nearly flat at $17.29 billion versus $17.21 billion a year earlier.