India Trade Deficit Narrows Sharply to Lowest in 17 Months

(Bloomberg) -- India’s trade deficit narrowed more than estimated in February from a month ago, as imports fell owing to a sharp drop in oil purchase cost. The gap between exports and imports was $9.6 billion last month, compared with $14.7 billion in January, data released by the commerce ministry showed Friday. The deficit is narrower than the $13.7 billion median estimate in a Bloomberg survey

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