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of <h1>India's January Exports Drop by 2.38%, Imports Surge by 10.28%, Widening Trade Deficit to $22.99 Billion</h1> India's merchandise exports fell by 2.38% to USD 36.43 billion in January, compared to USD 37.32 billion in the same month last year. Meanwhile, imports rose by 10.28% to USD 59.42 billion from USD 53.88 billion in January 2024, resulting in a trade deficit of USD 22.99 billion. For the fiscal period from April to January, exports grew by 1.39% to USD 358.91 billion, while imports increased by 7.43% to USD 601.9 billion.
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