Exports grow fastest in two years

Exports clocked their fastest pace of growth in two years, rising 13.5% to $27.3 billion during October, as demand for goods picked up in the US and Europe and Indian exporters gained from a sharp depreciation of the Indian rupee. Gold and silver imports fell almost 80% to around $1.4 billion compared to $6.9 billion in October 2012, resulting in trade deficit narrowing to around $10.5 billion, nearly half the level seen a year ago. Oil imports too provided some comfort, rising 1.7% to $15 billion.

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