Trade deficit narrows to $27.1 bn as imports fall sharply in Feb

India's merchandise trade deficit narrowed to $27.1 billion in February from $34.68 billion in January, as imports fell sharply while exports increased slightly. Exports stood at $36.61 billion and imports at $63.71 billion, as compared to $36.56 billion and $71.24 billion, respectively, in January. "This year has been challenging for Indian exports," said Commerce Secretary Rajesh Agrawal.