India’s exports recorded the slowest pace of growth in three months, 4.2 per cent year-on-year, at $24.6 billion in February due to the global slowdown. In sharp contrast, imports grew at a faster rate of 20.6 per cent year-on-year to $39.7 billion in February, translating into a trade deficit of $15.1 billion. Commerce Secretary Rahul Khullar has expressed concerns over the ballooning trade deficit, saying that since October exports are decelerating faster than imports. From a peak of 82 per cent in July, export growth slipped to 44.25 per cent in August, 36.36 per cent in September and 10.8 per cent in October, 3.8 per cent in November 2011.