India’s trade deficit may surge to $300 bn in FY26 despite lower oil prices: ICICI Bank Report
India’s trade deficit is projected to widen significantly to around $300 billion in the financial year 2025-26, even as international crude oil prices remain relatively stable, according to a recent report by ICICI Bank’s Economic Research Department. The forecast highlights fresh concerns for policymakers about the pressure on India’s current account balance and the need…