The Indian Trade Deficit for the month of October widened to a 17 year high of $ 19.6 bn.

The current trade deficit figures will also add pressure on the Indian Rupee, which has been the worst performing Asian currency in the current year.

The Exports for the month rose 10 percent (year on year) to $ 19.9 billion but imports shot up sharply, rising 21.7 percent. The Commerce Secretary Mr. Rahul Khullar showed concern on the rising trade gap and said that the trade deficit for the fiscal may be more than $ 150 billion.

The Exports were hit as the US and European Economies slow down. Exporters feel that the Euro zone crisis is likely to hit the exports in the coming months also

Cumulatively the Exports grew 46% from the period of April to Oct aggregating $ 179.8 billion and Imports grew by 31% at $ 273.5 billion, the trade Gap for the seven months stands at $ 93.7 billion.

The Trade deficit has expanded on the back of slow export growth and higher crude oil prices pushing the imports.

Trade deficit is a position when the country's imports exceed its exports and also reflects in the outflow of domestic currency to the foreign markets.