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India s merchandise trade deficit - the excess of imports over exports - could be more than $135 billion in 2010-11, putting further strain on the current account, due to an expected oil price spiral caused by Europe s extreme weather, commerce secretary Rahul Khullar told FE. Khullar s comment assumes significance since after the release of October data which showed exports growing faster than imports for the first time in three years the deficit for 2010-11 was re-estimated at a more comfortable $125 billion. For every month between April and August this financial year, trade deficit stood between $10 billion and $13 ...