India’s exports contracted by 15.88 per cent to USD 32.25 billion in July this year from USD 38.34 billion in the same month last year, the government data showed on Monday. Imports during the month also declined by 17 per cent to USD 52.92 billion from USD 63.77 billion in July 2022.
During April-July this fiscal, the exports dipped by 14.5 per cent to USD 136.22 billion. Imports during the period also declined by 13.79 per cent to USD 213.2 billion. Commerce secretary Sunil Barthawal said that the global headwinds are still there. There is a decline in exports and imports from several countries.