India Trade Deficit shrinks

India’s merchandise exports advanced 26.12 per cent to USD 43.81 billion in August, propelled by increased shipments of electronics, engineering goods, and petroleum products, while a decline in gold imports facilitated a reduction in the trade deficit to a five-month low of USD 26.86 billion. Imports increased by 14.1 per cent year-on-year to USD 70.76 billion in August, reflecting expansion in sectors including crude oil, project goods, electronic items, silver, coal, and coke. Gold imports decreased by 57.75 per cent to USD 2.3 billion during the month under review.