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India’s exports dip 5.4% in October, trade deficit narrows to $8.78 billion

After recording positive growth in September, India’s exports declined 5.4 percent to $24.82 billion in October on account of dip in shipments of petroleum products, gems and jewellery, leather, and engineering goods. Trade deficit in October narrowed to $8.78 billion as against $11.76 billion, as imports also fell 11.56 percent to $33.6 billion during the month under review.