India's November trade deficit falls to nearly $10 billion

India’s trade deficit in November fell 21.93%, from $12.75 billion a year ago to $9.96 billion, preliminary data released by the government showed. Merchandise imports contracted 13.33% in November to $33.39 billion from a year ago while exports fell 9.07% to $23.43 billion. Major export items that dragged down growth included petroleum products and engineering goods.