Trade deficit narrows to $20.78 billion in September

Export data: India's merchandise trade deficit in September was narrower than expected and stood at $20.78 billion, according to a Reuters calculation based on export and import data released by the government on Wednesday. 

Economists had expected the country's September trade deficit to be $25 billion, according to a Reuters poll.

India's merchandise trade deficit widened to a ten-month high of $29.65 billion in August.

India's merchandise exports in September stood at $34.58 billion, while imports were $55.36 billion, government data showed. In the previous month, merchandise exports were $34.71 billion, while imports stood at $64.36 billion.

In September, services exports were an estimated $30.61 billion, while imports were $16.32 billion. In August, services exports were $30.69 billion and imports were $15.70 billion.