September 20, 2024 11:03 AM

India’s trade deficit widens in August amid decline in crude oil exports: CRISIL report

India's trade deficit widened in August, primarily due to a decline in oil exports caused by falling crude prices, according to a recent report by CRISIL. The report highlights that the drop in crude oil prices, a key export commodity for India, has significantly impacted the country's overall export performance. Petroleum products remain a major component of India’s exports, with key destinations including the Netherlands, Singapore, Australia, and South Africa, as per Ministry of Commerce d...