India’s trade deficit widened significantly in October, driven by higher imports during the Hindu festival season, despite strong export growth. The trade gap reached USD 27.1 bln in October. The growing deficit could pressure the rupee, which is already near record lows, prompting central bank interventions in the FX market to manage volatility. Notably, Gold imports surged to USD 7.13 bln, up from USD 4.39 bln in September.