India's trade deficit narrows to $9.92 bn in January

Helped by a sharp fall in gold and silver imports, India's trade deficit declined to $9.92 billion in January from $18.97 billion recorded in the corresponding month of last year, government data showed Tuesday.

January trade deficit is also lower than the previous month's figure. The trade gap was at $10.14 billion in December.

According to data released here by the ministry of commerce and industry, India's exports rose by 3.79 percent to $26.75 billion in January this year as compared to $25.78 billion recorded in the corresponding month of previous year.

Imports slumped by 18.07 percent to $36.57 billion in January, led by a 77 percent drop in gold and silver imports.