India’s goods exports slipped back into negative territory in October, declining by 5.4 per cent (year-on-year) to $24.82 billion. It was pulled down by key sectors such as petroleum, gems & jewellery, leather & leather products, engineering goods, electronics and yarns, fibre and made-ups. Exports in September had posted an increase of 5.99 per cent to $ 27.58 billion, after a continuous fall of six months, raising hopes of a recovery, but with a second wave of Covid-19 virus hitting several regions across the world, the going continues to be uncertain. India’s goods imports in October 2020 were lower by 11.56 per cent at $ 33.6 billion leading to a trade deficit of $ 8.78 billion, as compared to trade deficit of $ 11.76 billion in October 2019, as per preliminary data released by the Commerce Department.

(The Hindu Business Line)