New Delhi: India’s exports increased by 26.12 per cent to USD 43.81 billion in August, and the trade deficit narrowed to USD 26.86 billion, government data showed on Tuesday.
The country’s imports rose by about 14.1 per cent to USD 70.76 billion in August.
During April-August this fiscal, exports jumped 17.85 per cent to USD 215.91 billion, and imports climbed 18.21 per cent to USD 363 billion.
Merchandise exports stood at $44.24 billion in July, while imports were at $76.22 billion.
Economists had expected the deficit to be $32 billion in August, according to a Reuters poll, compared with a deficit of $31.98 billion in the previous month.
India is seeking to diversify its export markets, with its trade deal with Britain now in force and a broader pact with the European Union moving towards implementation, potentially opening up greater access for domestic goods.
New strikes on Saudi Arabia and on ships in the Gulf are testing nerves in the Middle East, after an attack on a Saudi oil pipeline and an advance by Yemen’s Houthis threatened to worsen the wartime global crisis.
