India's export growth plunges to 0.8% in November; trade deficit shrinks

On the other hand, a similar slower pace of growth on the import side effectively shrunk the trade deficit in November

A high base effect and falling outbound trade of major exchange earners such as gems and jewellery and engineering goods nearly wiped out export growth in November, which came down to a marginal 0.8 per cent.

Outbound trade rose by the smallest margin so far in the current financial year to $26.5 billion. Compared to this, growth was recorded at 17.86 per cent in October. Exports contracted just once this year, in September. Despite suggesting that this was because of global trade headwinds, the figure had raised eyebrows among policymakers since the fall had come even as the rupee depreciated