India's exports dropped 4.6% in June

Imports also slipped 0.4%.

According to DBS, Jun exports fell 4.6% YoY, slowing from May and down 1.4% in Apr-Jun13. On seasonally adjusted six-month moving average basis, the pace of growth has slowed markedly from 2.5% MoM sa earlier this year to -1.5% last month.

Here's more:

This flies in the face of the belief that the weak rupee benefited the external sector and backs our expectations of weak sensitivity of exports to the domestic currency, in India’s context. Imports, meanwhile, fell -0.4% YoY, yet up 6% in Apr-Jun13.

The momentum here is slowing as well, though with much ofthe pullback concentrated in the non-oil and non-gold segments, this also highlights the underlying trend of weak consumption and investment demand.