India's exports rose by 13.47 percent to USD 27.27 billion in October while imports dipped by 14.5 percent, helping narrow the trade deficit. Imports stood at USD 37.8 billion, leaving a trade deficit of USD 10.56 billion as against USD 20.2 billion in October 2012, official data showed.
"This is a consistent growth in exports...The US is doing extremely well and Europe is also doing well," Commerce Secretary S R Rao told reporters here. Gold and silver imports in october dipped to USD 1.3 billion from USD 6.8 billion in the same period last year.
In April-October, exports grew by 6.32 per cent to USD 179.38 billion, while imports during the period contracted by 3.8 per cent to USD 270.06 billion. Rao expressed confidence that the country would achieve the USD 325 billion target for the current fiscal.
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