India's exports grew by 11% to $32.55 billion in March on account of higher growth in sectors including pharma, chemicals and engineering. Imports rose by 1.44% to $43.44 billion during the month. However, trade deficit narrowed to $10.89 billion as compared to $13.51 billion in the same month last year. For the full fiscal FY19, exports grew by 9% to $331 billion and imports rose by 8.99% to $507.44 billion. The country's trade deficit widened to $176.42 billion for the entire fiscal.
India's trade deficit with China fell by $10 billion to $53 billion in FY19 due to lower imports. India's exports to China grew 3% $17 billion in FY19 while imports dipped by 8% to $70 billion for the year ended March 31, 2019. Growth in exports was led by hrimps, organic chemicals, plastic raw material, and cotton yarn.