India's trade deficit for September narrows sequentially to $20.78 bn

India's trade deficit widened to $20.78 billion on an annual basis in September from $20.08 billion in the same month last year, data from the Commerce Ministry showed on Wednesday.

As per a Reuters poll, the economists had expected the country's September data to be $25 billion.

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.