India's exports fell 11.8 per cent to USD 34.38 billion in October, according to government data released on Monday.
Imports, on the other hand, rose 16.63 per cent to USD 76.06 billion, pushing the country's trade deficit to USD 41.68 billion for the month.
The surge in imports was largely driven by increased shipments of gold and silver. Gold imports alone jumped to USD 14.72 billion last month, up from USD 4.92 billion in October last year.
“The country's exports to the United States declined to USD 6.3 billion in October as against USD 6.9 billion registered in the year-ago month,” Commerce Secretary Rajesh Agrawal told reporters here.
During April-October of this fiscal year, exports grew marginally by 0.63 per cent to USD 254.25 billion, while imports rose 6.37 per cent to USD 451.08 billion, the commerce ministry data showed.
