 "Exports up 11% in Oct; trade deficit widens to \"worrying\" level")
New Delhi: India’s exports grew year-on-year by 10.8 percent to $19.9 billion in October while imports expanded at a sharper rate, leaving a big trade deficit of $19.6 billion.
Imports increased by 21.7 percent to $39.5 billion in October, according to data released by Commerce Secretary Rahul Khullar here today.
For the cumulative April-October period, exports aggregated to $179.8 billion, showing a handsome growth of 46 percent, thanks to sterling trend witnessed in the previous months of the current fiscal.
Imports for the seven-month period stood at $273.5 billion growing by 31 percent, while leaving the trade gap of $93.7 billion.
“Exports growth continues to look good and every sector is posting good growth,” Khullar told reporters here.
However, he said, the balance of trade “is something to be very worried about because at this rate you are going to breach the $150 billion mark (for the fiscal 2011-12).”
PTI