India’s exports exceeded the government’s aim in the year through March as demand from new markets drove shipments higher.
But the trade deficit widened to a record high following a surge in crude oil and gold imports, Commerce Secretary Rahul Khullar said on Thursday.
India’s merchandise exports rose 21 percent from the previous year to USD 303.7 billion, a tad higher than the targeted USD 300 billion, Khullar said at a news conference.
But imports rose faster at 32.1 percent to USD 488.6 billion, stretching the full year trade gap to USD 184.9 billion from USD 118.6 billion in the previous year.