Exports jump 21% to $18 bn in October

For the first time this year, India’s exports outpaced imports in October to ease concerns over ballooning trade deficit and raise hopes that Asia’s third-largest economy will be able to ship merchandise worth more than $200 billion in the ongoing fiscal. Commerce secretary Rahul Khullar said on Monday that exports rose 21.3% to $18 billion in October, while imports for the month grew 6.8% to $27.7 billion. The country’s trade deficit stood at $9.7 billion in the month under review against $9.12 billion in September. Trade deficit in August had widened to a 23-month high of over $13 billion and Khullar had said the deficit could touch $135 billion for the entire fiscal.

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