Exports up by 32.5% for January | business | Hindustan Times
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Exports up by 32.5% for January

India's exports grew by a healthy 32.5% on an year on year basis to USD 20.6 billion in January, 2011, on account of increasing demand in western markets.

business Updated: Feb 12, 2011 10:58 IST

India's exports grew by a healthy 32.5% on an year on year basis to USD 20.6 billion in January, 2011, on account of increasing demand in western markets.

During April-January this fiscal, the country's shipments went up by 29.4% to USD 184.6 billion.

"It is a huge jump...Export performance is pretty damn good...By February, we should cross USD 200 billion," Commerce Secretary Rahul Khullar told reporters in New Delhi.

Imports in January, 2011 are estimated to increase by 13.1% to USD 28.6 billion over the same period last year, leaving a trade deficit of USD 8 billion during the month under review, Khullar said.

During April-January, 2010-11, imports rose by 17.6% to USD 273.6 billion.

"The import numbers will be revised," Khullar added.

During the first 10 months of the financial year, trade deficit stood at USD 89 billion. Sectors that registered healthy growth during April-January, 2010-11 include gems and jewellery, engineering and petroleum and oil lubricants, he added.