Exports Surge 17% To $39.2 Bn In Oct

New Delhi: India’s merchandise exports in October rose by an impressive 17.25 per cent, highest in over two years, to $39.2 billion, while the trade deficit widened to $27.14 billion. According to the government data released on Thursday, imports increased by 3.9 per cent to $66.34 billion in October compared to $63.86 billion in the year-ago period. The trade deficit (gap between imports and exports) narrowed as compared to $30.42 billion recorded in October last year. However, it has widened from $20.78 billion recorded in September this year. India’s merchandise exports had marginally risen by 0.5 per cent to $34.58 billion in September.

During April-October this fiscal, exports increased by 3.18 per cent to $252.28 billion, and imports by 5.77 per cent to $416.93 billion. Commenting on the data, Commerce Secretary Sunil Barthwal said: “If we continue in this manner, we will cross $800 billion exports of goods and services together this fiscal year.”