Exports jump 27.6% in March; trade deficit grows to $10.4 bn
India's exports grew by 27.6 per cent to $29.23 billion in March on account of robust performance by sectors like petroleum, textiles, engineering goods and gems and jewellery. Imports too jumped 45.25 per cent to $39.66 billion last month from $27.3 billion in March 2016.
A huge spike in gold imports pushed the trade deficit to $10.43 billion during the month under review from $4.4 billion a year ago.
The imports of the precious metal rose to $4.17 billion in March this year compared to $973.45 million in the same month last year.
For the full fiscal 2016-17, exports saw a growth of 4.71 per cent at $274.64 billion against $262.3 billion in 2015-16.