India’s exports fell for a sixth straight month, the longest losing streak since 2009, weakening the rupee and boosting pressure on Prime Minister Narendra Modi to spur demand in Asia’s third-largest economy.
Overseas shipments fell 20.2% in May from a year earlier and imports dropped 16.5% on lower oil prices, the commerce ministry said in a statement on Tuesday. That resulted in a $10.4 billion trade deficit versus an $11 billion gap predicted by the median of 19 estimates in a Bloomberg..