The week in charts: Trade trends, unemployment rate, rural demand, and more
In this weekly Plain Facts compilation, we present to you data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.
From widening trade gaps induced by US tariff headwinds and surging gold imports to a rise in the urban unemployment rate in October, shifting consumption patterns in the economy, and Indian companies' cautious but steady push into generative AI, here's this week's news in numbers.
Trade dynamics
India’s goods trade deficit widened to a record high of $41.7 billion in October, showed provisional data released by the commerce ministry this week. The trade gap widened by 29.6% from September, and by nearly 60% from a year ago. The surge in gold imports and the impact of US tariffs on Indian exports were the primary factors driving the increase in trade deficit. Exports to the world’s largest economy stood at $6.3 billion, up 15% from September, but 8.6% lower than a year ago. Gold imports, meanwhile, tripled year-on-year to $14.7 billion. The prices of the yellow metal have risen by over 60% in just one year, driven by global economic uncertainty, geopolitical tensions, and robust buying by central banks.
Diverging trends
Unemployment rate in rural India eased to 4.4% in October from 4.6% the previous month, while the urban rate inched up to 7% from 6.8%, according to the latest Periodic Labour Force Survey. The decline in rural areas was led by women, for whom the figure was 4%, down from 4.3%. The fall in male unemployment was marginal. There has also been a small increase in the unemployment gap between rural men and women over the last three months. In contrast, the urban female unemployment rate rose to 9.7% from 9.3%, and the urban male rate rose to 6.1% from 6.0%. Overall, the country’s unemployment rate remained unchanged at 5.2% in October.
Consumption meter
Rural sales volumes for the packaged consumer goods sector rose 7.7% on-year in the September quarter, compared to 8.4% in the previous quarter, a NielsenIQ report said on Monday. For the seventh straight quarter, growth in rural India outpaced that in urban parts, which recorded a 3.7% increase in volumes, down from 4.1% in the June quarter. The dip in both parts of the economy was likely due to disruptions related to changes in goods and services tax rates. Meanwhile, in terms of value, sales were up 12.9%. Unit growth outpaced volume growth, signalling a stronger consumer preference for smaller packs, the report said. Unit sales refer to the number of packs sold.
Numbers talk
2.2 million tonnes: That is the quantity of liquefied petroleum gas (LPG) that three of India’s public sector oil companies—Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp.—will import from the US in 2026, as part of a new deal.
$45.7 million: This is the value of the US-approved potential sale of Javelin missile systems and related equipment to India, the Defense Security Cooperation Agency said, noting the deal aims to boost India’s defence capabilities and deepen strategic ties.
₹7,172 crore: The amount of cumulative investment that electronics and IT ministry cleared for 17 projects on Monday, in the second tranche of approvals under a scheme that aims to boost the production of electronic goods within the country.
₹2.67 trillion: This is the amount of budgetary support Indian Railways is expected to receive in 2026-27 as the government pushes a major upgrade drive, with capex likely rising about 12% to a record allocation, Mint reported.
49%: That’s the stake International Finance Corporation (IFC), Siemens AG and Fullerton Fund Management are in talks to buy in green hydrogen firm Hygenco, as part of a $125-million equity deal to fund its large-scale expansion plans, Mint reported.
On AI track
The adoption of generative artificial intelligence (AI) or agentic AI in Indian enterprises is progressing rapidly beyond the pilot level. Around 47% of the companies, which were part of a recent EY survey, said they had multiple AI-based projects live in the production stage, while 21% had such tasks at the proof-of-concept (PoC) stage, a stage that precedes pilot implementation.
Another 23% of the organizations had AI-based endeavours in early pilot levels. Only 10% said they were scaling the use cases across businesses. The survey covered over 200 organizations. Contrast the findings with 2024, when the same report found that 34% had only completed PoCs, while 36% reported no PoCs at all, implying that there was limited real-world deployment.
League table
Janata Dal (United) president Nitish Kumar took oath as Bihar’s chief minister for the 10th time on Thursday. If he completes his five-year tenure, he will become the third-longest-serving chief minister in Indian history. He currently sits in the eighth position, having served in the post for over 19 years across multiple terms and under different alliances. The longest-serving chief minister in India’s history remains Pawan Kumar Chamling, who led Sikkim for over 24 years until 2019. Nitish Kumar’s party is forming the government in alliance with the Bharatiya Janata Party. Their alliance, which included some smaller parties as well, secured 202 out of 243 seats in the Bihar Assembly elections held earlier in November.
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