New Delhi, Nov. 14 -- India's current account deficit (CAD) is expected to widen to USD 57 billion, or 1.4 per cent of GDP, in FY27 as stronger domestic demand and higher oil prices push up imports despite robust export growth, according to an ICICI Bank report.

The bank expects the merchandise trade deficit to reach USD 380 billion, revising its earlier estimate of USD 388 billion, with gold imports likely to remain moderate.

"Goods exports have seen a stellar performance in the fiscal year so far (22 per cent YoY), but stronger domestic demand and higher oil prices have driven goods imports higher too (16 per cent YoY)," ANI reported, citing the report.

Merchandise Trade Deficit Widens

India's merchandise trade deficit widened to ne...