India's foreign trade slumps the most in 30 years: RBI Guv

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India's foreign trade slumps the most in 30 years: RBI Guv

May 22, 2020 15:02 IST

India’s merchandise exports and imports suffered their worst slump in the last 30 years as Covid-19 paralysed world production and demand, RBI Governor Shaktikanta Das mentioned in his press briefing on Friday. India’s merchandise exports plunged by 60.3% in April 2020 while imports contracted by 58.6%. The trade deficit narrowed to $6.8 billion in April 2020, lowest since June 2016.

Economy