India exports up 32.4 percent

NEW DELHI: India's exports in January rose an annual 32.4 percent to $20.6 billion, while imports for the month rose 13.1 percent on the year to $28.6 billion, government data released on Tuesday showed.

India's trade deficit in January widened to $8 billion compared with $2.6 billion in December.

Exports in April-January exports rose an annual 29.3 percent to $184.6 billion.

Oil imports for January fell 7.8 percent to $7.9 billion.

Asia's third-largest economy is on track to exceed a target of close to 15 percent export growth in the current fiscal year.

But the government has lately raised concern about a ballooning trade deficit that could double in three years and cause an unsustainable current account deficit.