India's exports rise to $42.22 bn; trade deficit widens to $18.51 bn in March

India's merchandise exports jumped by 19.76 per cent to $42.22 billion in March while imports surged by 24.21 per cent to $60.74 billion resulting in a trade deficit of $18.51 billion during the month, the government data showed on Wednesday.

India's merchandise exports jumped by 19.76 per cent to $42.22 billion in March while imports surged by 24.21 per cent to $60.74 billion resulting in a trade deficit of $18.51 billion during the month, the government data showed on Wednesday. According to data released by the Ministry of Commerce and Industry, exports rose sharply in March led by strong growth recorded in the sectors like petroleum products, engineering and leather.

India's exports stood at $35.26 billion in March 2021. Despite a sharp increase in exports, trade deficit widened as the increase in imports was even sharper.

The trade deficit widened from $13.64 billion in March 2021 to $18.51 billion in March 2022. (ANI)