India’s exports have recorded a double digit growth of 10 point 29 per cent during August this year mainly on account of rise in shipments of chemicals, petroleum and engineering products.
According to the data released by the commerce ministry yesterday, India exported goods worth 23.81 billion US dollars in August this year against 21.59 billion dollars in the same period last year. Exports grew 8 percent in May and 4.39 percent in June this year.
The growth came even as exporters complained over the refund mechanism under GST, saying it is affceting outbound shipments. Imports also rose by 21.02 per cent to 35.46 billion dollars in August from 29.3 billion dollars in the corresponding period last year.
However, trade deficit widened to 11.64 billion dollars in the month under review from 7.7 billion dollars in August 2016, due to increase in gold imports that rose by about 69 per cent to 1.88 billion dollars last month.