India's exports rose by 13.47 percent to 27.27 billion dollars in October while imports dipped by 14.5 percent, helping narrow the trade deficit.

Imports stood at 37.8 billion, leaving a trade deficit of 10.56 billion dollars as against 20.2 billion in October 2012. Commerce Secretary S R Rao said in New Delhi that this is a consistent growth in exports. The US is doing extremely well and Europe is also doing well.

Gold and silver imports in october dipped to 1.3 billion from 6.8 billion dollars in the same period last year.

In April-October, exports grew by 6.32 per cent to 179.38 billion, while imports during the period contracted by 3.8 percent to 270.06 billion dollars.

Rao expressed confidence that the country would achieve the 325 billion target for the current fiscal.