India's merchandise exports increased notably from last year in March, data released by the Ministry of Trade and Industry showed Thursday.
Export of goods increased 6.97 percent year-on-year to $30.85 billion in March. The value of imports, meanwhile decreased by 2.87 percent annually to $41.16 billion during the month.
Oil imports fell 16.56 percent annually during the month, while imports of non-oil commodities increased by 5.41 percent.
The net trade resulted in a deficit of $10.32 billion in March, lower than the $13.54 billion shortfall seen a year earlier.
In the fiscal year ended March 2013, India's exports decreased 1.76 percent to $300.57 billion. Meanwhile, the value of imports moved up 0.44 percent to $491.49 billion, resulting in a deficit of $190.92 billion.
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