Goods exports slip 12%; gold imports push trade deficit to an all-time high
India's trade deficit hit a record high of $42 billion in October, driven by a drop in exports and a rise in gold imports. Experts attribute the surge in gold prices before the festive season as a possible cause, but this trend is not expected to continue. Non-oil and non-gold imports also saw a rise, with engineering goods, ready-made garments, and gems and jewellery being the most impacted.