Export rose 10.1 percent to $25.4 billion and imports increased by 20.3% to $40.1 billion in January, leaving the trade deficit to stand at $14.7 billion during the month.
For the period between April-January, India’s exports surged by 23.5% to $242.8 billion and imports grew by 29.4% to $391.5 billion.
The commerce Secretary Rahul Khullar said that the trade deficit is likely to be narrowed in the next two months of the current fiscal year and Exports are expected to touch $297 billion in FY12.
Tomorrow, Prime Minister will announce about the Europe-India Free Trade Agreement. India will send business delegation to Iran by the end of this month in order to improve trade ties with Iran.
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