India Trade Gap Narrows After Surprise Jump in Exports to US (1)

India’s trade deficit narrowed in November after exports rebounded from the previous month, including a surprise jump in shipments to the US despite high tariffs.

The deficit eased to $24.53 billion last month, lower than all estimates in a Bloomberg survey of economists, and down from a record $41.7 billion in October.

Exports grew at the fastest pace in more than three years, surging 19.4% from a year earlier to $38.13 billion, official data showed. The growth was largely supported by India’s push into markets like China, although there was also a sharp rebound in shipments to its biggest export ...