The US and European Union account for about 25% of the country's total merchandise exports
However, the trade deficit expanded to $44.51 bn in the first 7 months despite surge in Indian exports as imports from China continue to increase
FIEO India would no longer be able to legally offer export subsidies, as its per capita gross national income had crossed $1,000 for the third year in a row
India's planned exports touched 34% from 28% in the year-ago period