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.
India has often complained to China about less Indian exports due to the strictly-controlled Chinese market.
Apart from global cues, outflow of foreign funds from the Indian equity and bond markets has had an adverse impact on the rupee.
She also said farmers' distress will be compounded as the rupee fell further on Thursday to a new record low beyond Rs 70.20 against the dollar.
Wider trade deficit and outflow of foreign funds, weakened the Indian rupee to a fresh record low during the early morning trade session on Thursday.
The US targeted a total of 1,300 Chinese goods, from advanced manufacturing and aerospace to information technology and robotics.
