New Delhi, Apr 14 (KNN) Exceeding the export target of USD 750 billion, India has clocked in exports worth USD 778 billion in the financial year 2022-2023, announced the Commerce Ministry on Thursday.

India's trade deficit increased by 46.05 per cent y-o-y in last FY, the ministry said.

While overall import is estimated to have exhibited a growth of 17.38 per cent to USD 892.18 billion, said the official statement.

Petroleum exports grew by USD 27 billion y-o-y whereas the export of engineering goods saw a y-o-y fall of USD 5.12 billion in last fiscal.

The overall export growth for the fiscal under review was 13.84 per cent Y-o-y. Also, as many as 45 principal commodities showed positive growth in exports in value and volume in the last financial year.

On the other hand during the fiscal merchandise imports witnessed an annual rise of USD 111 billion.

Gold imports dropped by 11.15 per cent during the year while there was a 47 jump in petroleum imports.

Meanwhile, India UK FTA's round nine of negotiations is scheduled from April 24 to 28.  (KNN Bureau)