Imports from UAE surges 70% in October to $7.2 billion, shows data

India's imports from its free trade agreement partner UAE have jumped by 70.37 per cent year-on-year to USD 7.2 billion in October, leaving a trade deficit of about USD 3.5 billion during that month, according to the commerce ministry data. The deficit, the difference between imports and exports, was USD 2.47 billion in September. Cumulatively also, the imports from the UAE during April-October rose by 55.12 per cent to USD 38.64 billion against USD 24.91 billion in the same period previous fiscal, while exports were up by 15.86 per cent year-on-year to USD 20.93 billion compared to USD 18 billion in April-October 2023-24. The trade deficit during the seven-month period has widened to USD 17.71 billion from USD 6.85 billion in the same period a year ago. The FTA between India and the UAE came into effect in May 2022. According to the data, India's imports from UAE rose by 49.22 per cent to USD 5.38 billion in September and 72.7 per cent to USD 6.38 billion in August. Exports, on
Read The Rest at :