Exports register 6 month high, grows by 26 per cent during September: Data

New Delhi, Oct 14 (KNN) The Exports from the country grew at over 26 per cent in the month of September, registering a significant figure as compared to the previous six months, data from Ministry of Commerce and Industry revealed.

According to the data, the country exported goods worth $28.6 billion during September, showing its fastest pace in six months.

The data further revealed that the imports grew but at a slower pace as compared to the exports, thus paving way for a narrower trade deficit for the country.

With imports rising at a slower pace, trade deficit narrowed to its lowest level in seven months, the data suggested.

Dissecting the data further, its evident that the trade deficit or gap between exports and imports was a 5 per cent dip in gold imports to $1.7 billion during the month of September.

The data also suggested that the month of September also registered a sharp increase in the import of electronic goods pointed to high consumption demand for phones and other gadgets.

The data also estimated that imports grew at 18 per cent amounting to a sum of $37.6 billion with a surge in oil, coal and machinery and equipment that run factories and power plants.

Also sector including pearls and precious and semiprecious stones that are re-exported with value addition experienced similar trends.

Responding to the positive figures, Ganesh Gupta, President of Federation of Indian Export Organizations (FIEO) in a press interview said that the figures indicate a slight sign of relief for the sector.

Gupta however raised concerns over the overall scenario with situations including global uncertainties, rupee volatility and protectionism still prevailing in the export ecosystem. (With PIB Inputs) (KNN/DA)