Trade deficit falls by half in October

Buoyed by an uptick in demand from US and European markets and a stabler rupee, India's exports rose 13.47% to $ 27.27 billion in October — the highest growth rate registered in two years — while imports dipped by 14.5% to $37.8 billion. This left a trade deficit of $10.56 billion for the month compared to $20.2 billion in October 2012. The trade deficit in September was two-and-a-half-year low of $6.7 billion.

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