*INDIA IMPEX UPDATE* India’s trade deficit expanded to $23 billion in Jan 25, up from $16.56 billion in the same month last year, marking a 24.85% year-on-year increase. Imports in Dec 24 were $59.95 billion vs $59.42 billion in Jan 25, exports also contracted by 2.38% to $36.43 billion. The deficit also widened from $21.94 billion in Dec 24, as import growth outpaced exports. Key factors include higher global prices for commodities and weakening Rupee.