India’s trade deficit eases to $20.78 billion in September
India’s trade deficit eased to $20.78 billion in September as merchandise imports growth slowed to 1.6%, the data issued by the Ministry of Commerce and Industry said.
India’s trade deficit eased to $20.78 billion in September as merchandise imports growth slowed to 1.6%, the data issued by the Ministry of Commerce and Industry said.
Merchandise exports during July 2024 were USD 33.98 Billion as compared to USD 34.49 Billion in July 2023 while the imports were USD 57.48 Billion as compared to USD 53.49 Billion.
On the other hand, the overall imports in January are estimated to be $70.46 Billion, exhibiting a positive growth of 4.15 per cent over January 2023.
India's overall exports went up to $61.10 billion in September, according to data released by Commerce Ministry on Friday. These were 10.2 per cent higher than the corresponding period of last year.
The merchandise exports were recorded at USD 82 billion during April-June 2018-19 and USD 90 billion during the last quarter of 2020-21, he said.
Gold imports surged to USD 6.12 billion during the month under review as against USD 2.83 million in April 2020.
Exports in December 2019 was $27.11 billion, while imports stood at $39.5 billion. In November 2020, the exports were down by 8.74 per cent.
Outbound shipments in September last year were USD 26.02 billion.
In order to reach the 5-trillion-dollar economy mark as envisaged by Prime Minister Narendra Modi, India must try to bring back the 19-20 per cent export growth.
Addressing the India-Turkey Business Forum here organised by industry chamber Ficci, Prabhu said as part of improving trade relations with Turkey, the Indian Finance Ministry was also looking at a proposal from that country on allowing bilateral trade to be carried out in local currency.
