January exports up 32.4% YoY: Govt

India's exports in January rose an annual 32.4% to USD 20.6 billion, while imports for the month rose 13.1% on the year to USD 28.6 billion, government data released on Tuesday showed.

India's trade deficit in January widened to USD 8 billion compared with USD 2.6 billion in December.

Exports in April-January exports rose an annual 29.3% to USD 184.6 billion. Oil imports for January fell 7.8% to USD 7.9 billion.

Asia's third-largest economy is on track to exceed a target of close to 15% export growth in the current fiscal year. But the government has lately raised concern about a ballooning trade deficit that could double in three years and cause an unsustainable current account deficit.