India's exports grew 27.6% in March, the fastest pace in five years on the back of rising shipments of petroleum products, engineering goods and marine products. Exports rose to $29.2 billion compared to $22.9 billion in March 2016. However, overall exports during 2016-17 rose 4.7% to $274.6 billion compared with $262.3 billion in the previous year. This has been a difficult year for the country's exports given the sluggish global economic environment.
Trade deficit in March, rose to a four-month high of $10.4 billion largely due to surge in gold imports. Imports rose 45.3% to $39.7 billion, while gold imports soared to $4.17 billion during the month compared with $973.45 million in March 2016.