India’s merchandise trade deficit widens to $30.21 billion

Dragon Media Newsroom

India’s merchandise trade deficit widened to $30.21 billion in September, up from $26.86 billion in August.

Preliminary figures released by India’s commerce ministry show that merchandise imports rose to $74.61 billion in September, while exports reached $44.40 billion. Imports grew faster than exports, expanding the gap.

Higher energy and other import costs have added pressure to India’s trade balance. Exports of petroleum products, electronic goods, handicrafts and engineering products recorded growth. India is seeking to narrow the deficit by expanding exports and pursuing new trade agreements.