India's August merchandise exports up 26.1%, outpace imports 1st time
Business
India's trade deficit got a lot smaller this August, with merchandise exports jumping by 26.1% to $43.8 billion, outpacing imports for the first time.
Total exports (goods plus services) hit $82.7 billion, showing Indian products are finding more takers around the world.
Trade deficit narrows to $9.4B
Imports did rise too (up 18.7% to $92.1 billion), but since exports grew faster, the trade gap dropped from $11.6 billion last year to just $9.4 billion now.
Commerce Secretary Rajesh Agrawal pointed out that this is not just about currency changes; more Indian goods are actually being sold abroad in higher volumes and value, a good sign for India's global presence going forward.