Exports up 10.8% in Oct; trade gap widens to "worrying" level

New Delhi, Nov 8: India's exports grew year-on-year by 10.8 per cent to USD 19.9 billion in October while imports expanded at a sharper rate, leaving a big trade deficit of USD 19.6 billion.

Imports increased by 21.7 per cent to USD 39.5 billion in October, according to data released by Commerce Secretary Rahul Khullar here today. For the cumulative April-October period, exports aggregated to USD 179.8 billion, showing a handsome growth of 46 per cent, thanks to sterling trend witnessed in the previous months of the current fiscal.

Imports for the seven-month period stood at USD 273.5 billion growing by 31 per cent, while leaving the trade gap of USD 93.7 billion. "Exports growth continues to look good and every sector is posting good growth," Khullar told reporters here. However, he said, the balance of trade "is something to be very worried about because at this rate you are going to breach the USD 150 billion mark (for the fiscal 2011-12)."

PTI