India’s merchandise exports grew 27.59% in March to USD 29.3 billion pushed by a promising uptake in engineering goods shipments and petroleum products and gems and jewellery.
But the country's trade deficit widened to a four-month high of USD 10.44 billion in March due to surge in gold imports.
The sharp jump in March exports growing by double digits for the second consecutive month is a positive sign of revival in global demand for Indian goods and services, experts told Bureaucracy Today.
As per the Commerce Ministry data, imports rose 45.25% to USD 39.7 billion leaving a trade deficit of USD 10.4 billion during the month. Trade deficit would have been significantly lower if the 329.19% jump in gold imports to USD 4.2 billion would not have taken place during the month.