India’s Exports Accelerate, Putting Pressure on Rates
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India’s merchandise exports increased at a faster pace in August amid growing demand for the nation’s goods, sustaining pressure for higher interest rates to cool inflation.
Overseas shipments rose 22.5 percent to $16.6 billion from a year earlier, Commerce Secretary Rahul Khullar told reporters in New Delhi today. Exports rose 13.2 percent in July, according to previously reported numbers. Imports totaled $29.7 billion in August and the trade deficit was $13.06 billion, Khullar said.