UPDATE 1-Indian exports up 6% in year to end-March, Russian imports surge

A Reuters calculation put India's merchandise trade deficit in March at $19.73 billion, higher than the $17.43 billion recorded in the previous month, and above the $18.30 billion forecast in a Reuters poll. March merchandise exports were $38.38 billion, up from $33.88 billion in February, while imports rose to $58.11 billion from $51.31 billion, the government data showed. India's April-March merchandise exports were up 6% year-on-year to $447.46 billion, while goods imports during the same period were up 16.5% to $714.24 billion, the data showed. The country's services exports in March were $27.75 billion, while services imports were $14.05 billion, according to the government's preliminary estimate. Services exports in February were $29.15 billion, while imports were $14.55 billion. India's merchandise and services exports were up nearly 14% on the year to $770.18 billion in the last fiscal year that ended on March 31, while imports were up 17.4% to $892.18 billion during the period. In the same period, India's imports from Russia surged 369.44% to $46.33 billion. The rise in services exports has helped India's current account deficit to shrink more than expected in the October-December quarter, offsetting weakness seen in goods exports.
(Reporting by Aftab Ahmed; Editing by Krishna N. Das and Alexander Smith)