India’s exports grew by 22.5 per cent in August on improved global rekindling hopes that the $200 billion dollar export target for 2010-11 is likely to be met.
"Things are going so far according to our plan and we should be able to reach over exports target of USD 200 billion," Commerce Secretary Rahul Khullar said.
Federation of India’s Export Organisation (FIEO) said if the current growth rate can be sustained, the final export figure might even exceed the targetted $200 billion.
Imports grew by 32.2 per cent to $ 29.7 billion in August, resulting in a trade deficit of $13.06 billion. Last month, the government announced a Rs 1,050 crore incentive package to labour intensive sectors amid rising concern about a demand slump in the US and Europe.