India's trade deficit decreased to $20.78 billion while its exports increased slightly to $34.58 billion

After two months of decrease, the country's manufactured goods exports increased modestly by 0.5% to $34.58 billion in September, bringing the trade deficit down to $20.78 billion.

Official figures released on Wednesday, show that imports increased 1.6% to $55.36 billion in September compared to $54.49 billion in the same month the previous year. In the same month previous year, there was a $20.8 billion trade imbalance, or the difference between imports and exports. It expanded to a 10-month peak of $29.65 billion in August.

Exports decreased by 1.2% in July and 9.3% in August compared to the previous year. The current financial year had a 1% increase in exports to $213.22 billion and a 6.16% increase in imports to $350.66 billion from April to September. During the first half of the fiscal year, there was a $137.44 billion trade deficit.

Reporters at this location were informed by Commerce Secretary Sunil Barthwal that exports had increased positively in September and the first half of the current financial year, despite global uncertainty. Engineering, chemicals, plastics, pharmaceuticals, electronics, ready-made clothing, and plastics were significant export drivers.

"We have performed well despite global difficulties," stated Barthwal. Compared to $4.11 billion in September of last year, gold imports increased to $4.39 billion in September.