India's overseas sales decreased by 1.2% to $33.98 billion in the month of July.

The latest government data released on Wednesday revealed a slight dip in India's merchandise exports for the month of July. The total value of exports stood at $33.98 billion, a decrease of 1.2 percent from the same month last year, when it was $34.39 billion. On the other hand, the value of imports saw a significant increase of 7.45 percent, reaching $57.48 billion from $53.49 billion in July 2018.

This resulted in a trade deficit of $23.5 billion for the month of July. The Commerce Secretary, Sunil Barthwal, shared in a media briefing that based on the current trend, the country's total exports of goods and services are expected to surpass last year's figure. This is a promising sign for the Indian economy, which has been facing challenges in the global market.

In June, India's merchandise exports had seen a growth of 2.56 percent, reaching $35.2 billion. However, the trade deficit had widened to $20.98 billion in the same month. Looking at the bigger picture, the total value of exports from April to July this fiscal year has increased by 4.15 percent, reaching $144.12 billion. Similarly, imports have also seen a growth of 7.57 percent, reaching $229.7 billion in the same period.

These figures indicate a steady growth in India's trade despite the current global economic conditions. The government is optimistic about the future prospects and is working towards boosting the country's exports further. This is a positive outlook for the Indian economy, and it is hoped that this trend will continue in the coming months. This is PTI reporting.

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