According to a senior Commerce Ministry official, exports in India, declined for the first time in October. This decline is backed by the global economic turmoil and recession fears. Director General of Foreign Trade R S Gujral said that for the first time in the last five years, in October, there has been a decline of over 15 per cent (in exports) in dollar terms. Export of the petroleum products declined by more than 20 per cent. Growth in April-October has been 21.5 per cent, down from 30.9 per cent for the April-September period.
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