India's Trade Deficit Widens Amid Recovery Hopes

(Reuters) - India's trade deficit widened to an 18-month high in November as demand for machinery and transport equipment soared, bolstering hopes of a sustained recovery in Asia's third-largest economy. Higher gold imports during the month also helped swell the trade shortfall to $16.86 billion last month, its highest level since May 2013. Gold imports jumped 34 percent from October to $5.61 billion.