Key Points
New Delhi: India's merchandise exports rose 6.21% year-on-year to $33.57 billion in October, while the trade deficit swelled to a record as imports surged, buoyed by strong consumer spending ahead of the festival season..
The gap between exports and imports widened to $31.46 billion on the back of a jump in gold imports, official data released Wednesday showed..
It was at $19.37 billion in September and $26.3 billion in October last year..
The full year's export growth projection depends on several factors such as interest rates and commodity prices, he said.. To be sure, for the April-October period, exports contracted 7% to $244.89 billion while imports fell 8.95% to $391.96 billion...
There's been a moderation in commodity prices, which spiked last year after the Russia-Ukraine war began, he said.. "Demand is still an issue in many markets due to high inventory and growth reflects that we may be eating into the share of some other countries," he said...
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