Exports dive 21% in August

Exports from India are still not out of the woods, with as many as 23 key sectors, including petroleum, engineering and leather, declining in August mainly due to a fall in global prices and a demand downturn.
In all, 23 out of 30 sectors closely monitored by the commerce ministry were in the negative zone last month, according to ministry data.
This has prompted exporters' body FIEO to seek immediate intervention of the government to arrest the decline.
India's exports declined 20.7% in August to $21.3 billion, pushing up the trade deficit to $12.5 billion. During the month, top two sectors -engineering and petroleum products -contracted 29% and 47.9%, respectively .

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