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COVID-19 impact: India’s exports plunge to record low of 60.28 per cent in April

Contracting for the second straight month, India’s exports shrank by a record 60.28 per cent in April to USD 10.36 billion, mainly on account of the coronavirus lockdown, official data showed on Friday. Imports too plunged by 58.65 per cent to USD 17.12 billion in April, leaving a trade deficit of USD 6.76 billion as against USD 15.33 billion in April 2019, according to the data by the commerce and industry ministry.