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Trade Deficit widens, goods exports post 9.6% growth

The country’s trade deficit widened to $10.16 billion in October, compared with $9.69 billion in the same month a year earlier, as gold imports more than doubled.
●    Gold imports in October rose 108.43 per cent to $3.5 billion compared with the same month a year earlier.
●    Exports of goods grew 9.59 per cent to $23.51 billion compared with the same month a year earlier due to an increase in exports of gems & jewellery, engineering goods and readymade garments. 
●    Imports expanded 8.11 per cent to $33.67 billion.
●    If the positive growth continues in the coming months, India’s exports could touch $280 billion.
●    Oil imports grew by 3.98 per cent to $7.14 billion, while exports of petroleum products recorded a 7.24 per cent growth to $2.71 billion.
●    Non-petroleum exports in October grew 9.9 per cent to $20.79 billion. 
●    Non-oil imports grew 9.28 per cent to $26.53 billion in October.