India’s trade deficit widened sharply in May 2026 despite a strong surge in exports, as rising imports outpaced gains in both merchandise and services trade, news agency ANI reported based on data released by the Ministry of Commerce and Industry. While exports touched record levels during the month, a steep increase in imports pushed the country’s trade gap significantly higher compared to the same period last year, underlining growing domestic demand and rising commodity costs, as per the data released by the ministry.