New Delhi, Oct 15 (PTI) India’s exports grew 6.74 per cent to USD 36.38 billion in September, while imports jumped 16.6 per cent, widening the trade deficit to USD 31.15 billion, the highest in over a year.
The increase in inbound shipments of gold, fertiliser and silver has pushed the country’s imports in September to USD 68.53 billion against USD 58.74 billion in the same month last year, official data released on Wednesday showed.
Cumulatively, in April-September, exports increased by 3.02 per cent to USD 220.12 billion, while imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion.
Briefing the media on the data, Commerce Secretary Rajesh Agrawal said that despite global economic turbulence, India’s goods and services exports are doing well.
When asked about the reason for growth in the shipments, he said the domestic industry has been resilient.
“They are maintaining their supply chains and business relations,” he told reporters here.
On the impact of the 50 per cent tariff imposed by the US on Indian goods, he said the ministry is looking into commodity-wise data to assess the impact.
He added that still 45 per cent of India’s exports to the US are outside the ambit of the high tariffs.
The impact will definitely be there on 55 per cent of the products, which are attracting 50 per cent duties by the US. PTI RR RR BAL BAL
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.