India's Trade Deficit Widens While Industrial Output Rises Recent data reveals mixed signals on India's economic performance amid growing trade challengesIndia’s economic performance has come under the spotlight amid recent data signaling both challenges and opportunities within its trade and manufacturing sectors. One of the most notable developments has been the widening of India's merchandise trade deficit, which swelled to $27.14 billion for October 2024, according to recent reports. Compounding these trade challenges, India's industrial output grew by 3.1% year-on-year as of September 2024. Private consumption, one of India's core economic drivers, has shown signs of revival as well. The economic model, which binds rural consumption, manufacturing output, and successful foreign investment, will need to be resilient and adaptive to maintain momentum.
