News ID: 234443
Published: 1144 GMT November 18, 2018

India's exports grow at nearly 18 percent, but trade deficit too widens

India's exports grow at nearly 18 percent,  but trade deficit too widens
Published by livemint.com

India's overall exports, including both merchandise and services, are estimated to be $308.32 billion from April to October, thereby exhibiting a growth of 17.17 percent over the same period last year, said the official data released by the Commerce Ministry.

And, the overall imports during the seven months (April-October) are estimated to be $374.88 billion, showing a growth of 18.88 percent over the same period last year, added the official data, according to Xinhua.

Total exports during October alone were$26.98 billion, as compared to $22.89 billion in the same month last year, thereby registering a positive growth of 17.86 percent.

Total oil imports in October stood at $14.21 billion which was 52.64 percent higher, compared to $9.31 billion in the same month last year.

Oil imports during April-October were $83.94 billion, which was 50.48 percent higher compared to $55.78 billion over the same period last year.

High growth was witnessed in plastic and linoleum, petroleum, organic and inorganic chemicals, drugs and pharmaceuticals, engineering and electronic goods and various labour-intensive sectors including gems and jewelry, leather and leather products, ceramic products and glassware, commodities and in some agri-products.

Reacting to the positive growth in exports during the month October, president of Federation of Indian Export Organizations Ganesh Kumar Gupta said it re-affirmed India's assessment of reaching the new milestone of $350 billion in the current fiscal, the highest ever exports figures during recent years braving all the odds.

   
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