India's trade deficit grew to $27.14 billion in October as imports rose faster than exports.

India's merchandise trade deficit widened to $27.14 billion in October, up from $20.8 billion in September. Despite a 17.26% increase in exports to $39.2 billion, imports rose 3.88% to $66.34 billion. The Commerce Secretary expects exports to surpass $800 billion for the fiscal year ending March 2025, driven by growth in sectors like engineering and electronics. However, higher imports of crude oil and gold contributed to the deficit.

November 14, 2024
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