India July 2026 current account deficit widens to $7.0B on higher imports

India's current account deficit widened to $7.0B in July 2026 from $3.2B a year earlier, driven by a merchandise trade deficit that expanded to $31.7B as imports grew faster than exports. The April-July cumulative deficit reached $11.2B, up from $6.6B, reflecting sustained import demand. This signals external-sector pressure that could weigh on the rupee and complicate monetary policy.