India's exports grew 11.15 percent in September and imports
declined 18.1 per cent amid a sharp fall in inward shipments of gold and
silver, taking the trade deficit to the lowest level in 30 months.
Exports
last month climbed to USD 27.68 billion, while imports stood at USD
34.4 billion, narrowing the trade gap to USD 6.76 billion.
"The
trade deficit during the month was the lowest since March 2011. The
main reason for decline in imports was a dip in imports of gold and
oil," Commerce Secretary SR Rao told reporters here.
Imports
of gold and silver plunged more than 80 per cent to USD 0.8 billion in
September from USD 4.6 billion a year earlier. Oil imports declined by
about 6 per cent to USD 13.19 billion.
During April-September, gold and silver imports rose 8.7 per cent to USD 23.1 billion.
