India’s exports rise 18% in May; trade deficit at $28.2 billion
India’s merchandise exports rose 18% year-on-year to $45.2 billion in May, the highest monthly growth in six months, even as the trade deficit widened to $28.21 billion due to higher imports of petroleum products amid a surge in crude oil prices.The trade gap, however, narrowed marginally from $28.38 billion in April. It stood at $21.88…