India’s merchandise trade deficit widened to $28.38 billion in April amid continued Middle East conflict. India’s merchandise exports rose to $43.56 billion from $38.92 billion in March, while imports rose to $71.94 billion from $59.59 billion. However, exports to West Asia declined 28% to $4.16 billion in April 2026 as against $5.78 billion in April 2025. Imports from the region dipped 31.64% to $10.47 billion in April from $15.32 billion in the year-ago period.