India's merchandise trade deficit widened to a record high of $41.68 billion in October, driven by higher gold imports and a decline in US-bound exports. The trade deficit in September stood at $32.15 billion, while it was $35.62 billion in August 2024. India's exports fell 11.8% to $34.38 billion in October, while imports went up 16.63% to $76.06 billion.