India's merchandise exports declined by 2.6% in September, reaching $34.5 billion. However, a 15% decrease in imports helped narrow the trade deficit to a five-month low of $19.4 billion. The government revised the export growth in August to 3.88% from an earlier reported contraction of 6.8%. Despite the decline, officials remain optimistic about positive growth in the coming months. The gems and jewellery sector was hit hard by the Russia-Ukraine conflict and sanctions on Russia, resulting in a 16.03% contraction in exports.