India's trade deficit narrowed to USD 24.53 billion in November from USD 41.68 billion in October, said the data released by the government on Monday. This was driven by a fall in gold, oil and coal imports, it said.
India's merchandise trade deficit in November came at USD 37.84 billion, attributable to burgeoning imports relative to exports. Reportedly, this is the highest monthly trade deficit by far.
India's overall exports, merchandise and services combined, in November are estimated to be USD 62.58 billion, exhibiting a marginal positive growth of 1.23 per cent on a yearly basis, official data released on Friday showed.
The Federation of Indian Export Organisations (FIEO) President A Sakthivel has said India's exports coming back in the positive territory was on the expected lines but the challenges would continue due to the ongoing slowdown in demand and rising inflation in several economies.