NEW DELHI: India’s trade deficit widened to a seven-month high in May as gold imports surged, provisional data showed, but economists expect newly announced measures to dampen demand for the precious metal in coming months and narrow the shortfall.
A nearly 90% annual jump in gold and silver imports saw the trade deficit rise to US$20.14bil last month from US$17.8bil in April. The rise in gold import growth was slower than an annual 138% surge in April.
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