Exports contract for 6th straight month in January

India’s exports dropped 1.66% to $25.97 billion in January, the sixth straight month of contraction, on account of a significant fall in shipments of petroleum, plastic, carpet, gems and jewellery, and leather products. Imports also fell for eighth month, down 0.75% to $41.14 billion in January, widening the trade deficit to a seven-month high of $15.17 billion.

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