India's January trade deficit narrows to $14.54 bn, exports rise 6.16%

Imports also grow for second month, signifying domestic demand recovery

India’s exports expanded for the second consecutive month in January and the third time this fiscal year, led by robust growth in the non-oil and non-jewellery segments, indicating manufacturing activity revival.
 
Imports also grew for the second straight month, signifying recovery in domestic demand, but led to widening of trade deficit compared to the year-ago period, according to government data.
 
Exports grew 6.16 per cent in January, while imports went up 2.03 per cent on a year-on-year (YoY) basis, resulting in a trade deficit of $14.54 billion compared to $15.17 billion in the same month last year.