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India's goods trade deficit fell to $20.78 billion in September, the lowest in five months, down from $29.70 billion in August.
Imports dropped by $9 billion from an all-time high of $64.4 billion in August.
Merchandise exports increased by 0.5% in September to $34.6 billion, ending a two-month decline.
Shipments of petroleum products fell nearly 27% to $4.7 billion, marking the lowest level in over two years.
The significant drop in gold imports to $4.4 billion helped reduce the trade deficit.
Silver imports skyrocketed over 205% in September, reaching $325.7 million.
Between April and September, exports grew by 1% while imports rose by 6.16%, reflecting sluggish global demand.
Exporters are urging the government to provide liquidity support and restore key export schemes to enhance competitiveness.
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