Trade deficit narrows in Sept: trade secy | business | Hindustan Times
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Trade deficit narrows in Sept: trade secy

business Updated: Oct 25, 2010 13:13 IST

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India's trade deficit narrowed in September to $9.12 billion, Trade Secretary Rahul Khullar said on Monday.

Exports in September rose an annual 23.2 per cent to $18.02 billion, while imports for the month grew 26.1 per cent on the year to $27.14 billion, Khullar told reporters.

India's trade deficit in August had widened to a 23-month high of $13.06 billion and Khullar had said the deficit could touch $135 billion for the year to end-March 2011, higher than his earlier forecast for $120 billion.

Asia's third-largest economy is targeting close to 15 per cent export growth in the current fiscal, following a drop of 4.7 per cent in the 2009/10 fiscal year as the global financial crisis-led slowdown crimped demand.