India’s Trade Gap Narrows as Middle East War Hits Shipments

India’s trade deficit narrowed in March as shipments to and from the Middle East were disrupted by the Iran war, which has severely damaged energy assets and choked supplies through a vital shipping route.

The gap between exports and imports stood at $20.67 billion in March from $27.1 billion in February, data released by the Ministry of Commerce and Industry showed Wednesday. That compares with a $28.5 billion deficit forecast by economists in a Bloomberg survey.