India's exports up 29.9% to record $89.99 bn in October; trade deficit narrows

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India reports higher October exports and differing trade balances

India’s October exports rose 29.9% to $89.99 billion, according to Hindustan Times and The Hindu, which reported that the trade deficit narrowed to $20.09 billion. Prokerala separately put merchandise exports at a record $49.47 billion, while BusinessLine and mint reported a merchandise trade deficit of $39.88 billion, a one-year high. India Times said five sectors drove 83% of the merchandise export increase, with their exports up 59.4% to $34.37 billion. The reports give different export and deficit figures and do not explain the difference in their coverage.