India's exports rise 15.5% in June, trade deficit widens to $30.43 Billion

India's merchandise exports increased 15.5 per cent year-on-year to USD 40.41 billion in June, while imports surged nearly 31 per cent to USD 70.84 billion, pushing the country's trade deficit to USD 30.43 billion.

During the April-June quarter of the current financial year, exports grew 15.92 per cent to USD 129.32 billion, while imports rose 19.89 per cent to USD 216.18 billion. Gold imports also climbed sharply to USD 11.01 billion during the quarter, compared with USD 7.49 billion in the same period last year.

Commerce Secretary Rajesh Agarwal said exports to West Asian countries rose 7.29 per cent to USD 5 billion in June. He attributed the rise in imports to higher purchases of crude oil, electronics, machinery and precious metals, reflecting increased domestic demand and industrial activity.