India's trade deficit trims to $28.21B in May; petroleum exports ease import hit

[Arjit]

Source: https://m.economictimes.com/news/economy/indicators/indias-trade-deficit-narrows-slightly-in-may-despite-middle-east-turmoil/articleshow/131737473.cms

[Dinesh]

India just hit a record $45.2 billion in monthly merchandise exports, and most of that surge is coming from petroleum products rather than manufacturing or textiles.

It makes you wonder: how much of today's export growth is actually coming from refining margins and energy trade - which are pretty volatile and not exactly the kind of "Made in India" value-addition we talk about - versus genuine diversification that can boost our long-term competitiveness?