India’s trade deficit in October stood at $31.46 billion. Representational image
| Photo Credit: Reuters
India’s merchandise exports rose by 6.21% to $33.57 billion in October this year even as trade deficit ballooned to $31.46 billion during the month, government data showed on November 15.
Imports increased to $65.03 billion in the month under consideration, as against $57.91 billion recorded in October 2022.
The country’s trade deficit in October stood at $31.46 billion.
During the April-October period of this fiscal year, exports contracted by 7% to $244.89 billion. Imports during the seven-month period fell by 8.95% to $391.96 billion.
Commerce Secretary Sunil Barthwal said the trade numbers in October reflect ‘green shoots’ of recovery in outbound shipments.