India’s exports drop 5.4% in Oct to $24.82 billion; trade deficit reaches $8.78 billion

After recording positive growth in September, India’s exports declined 5.4 per cent to USD 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 USD 8.78 billion as against USD 11.76 billion, as imports also fell 11.56 per cent to USD 33.6 billion during the month under review.