Consider the following statements regarding the India's Trade Deficit:n1. India’s trade deficit narrowed to an 11-month low in January.n2. It is due to a sharp decline in the imports of petroleum products and electronic items even as exports are contracted.n3. India’s exports fell 17.7% to $217.7 billion while imports shrank 15.5% to $324.5 billion resulting in a trade deficit of $106.8 billion.nWhich of the above statements are correct?

• A. Only 1 u0026 3
• B. Only 1 u0026 2
• C. Only 2 u0026 3
• D. All are correct