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India Trade Deficit Widens

India Trade Deficit WidensIndia Trade Deficit Widens

India’s exports grew by 19.77% to $24.63 billion in April on account of robust performance by sectors like petroleum, textiles, engineering goods as well as gems and jewelry, PTI reported. Imports too jumped 49.07% to $37.88 billion last month from $25.4 billion in April 2016, according to the data released by the commerce ministry. A huge jump in gold imports pushed up the trade deficit to $13.24 billion during the month under review from $4.84 billion a year ago. The imports of the precious metal rose 3-fold to $3.85 billion in April compared to $1.23 billion in the same month last year.

 

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