The Export Import Bank of India (Exim Bank) stated in a latest update that India's export growth will surge to 7% for the October-December quarter. The Exim Bank estimate said merchandise exports will go up to $ 82.39 billion for the third quarter of the fiscal year, as against $ 77 billion.
Growth in India's merchandise exports eased to 0.8% in November from 17.86% in October, the result of an unfavourable base effect. The trade deficit narrowed as a result, benefitting from a sharp fall in crude oil prices. Data released by the commerce ministry showed imports grew at 4.3% while the trade deficit fell to $16.7 billion in November.
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