India's exports jumped by 60.29 per cent to $34.45 billion in March but at the same time they witnessed a contraction by 7.26 per cent during the FY21 fiscal, recording $290.63 billion. Imports also grew by 53.74 per cent to $48.38 billion in March, but dipped by 18 per cent to $389.18 billion during 2020-21, according to the data released on Thursday by the Ministry of Commerce.
Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020. The trade deficit during FY21 though, narrowed to $98.56 billion as against $161.35 billion during 2019-20, according to the data.
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