India's exports up by 49.8 pc to $23.6 bn in Feb | business | Hindustan Times
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India's exports up by 49.8 pc to $23.6 bn in Feb

business Updated: Mar 10, 2011 13:20 IST

India's exports went up by 49.8% year-on-year to $23.6 billion in February on the back of increased demand from markets like North America, Asia and Africa.

During April-February, 2011, the country's merchandise shipments grew by 31.4% to $208.2 billion, surpassing the export target of $200 billion for the entire 2010-11 fiscal.

"We have crossed the $200 billion mark... The current forecast for the year is $230-235 billion," Commerce Secretary Rahul Khullar told reporters here.

Imports also went up in February, rising by 21.2% to $31.7 billion, leaving a trade gap of $8.1 billion, Khullar said.

During April-February, 2011, imports grew by 18% to $305.3 billion. During the 11-month period, the trade deficit amounted at $97.1 billion.

"We will end up (the fiscal) closer to $350 billion imports," Khullar added.

The export sectors that performed well during the April, 2010-February, 2011, period include gems and jewellery, engineering, ready-made garments, cotton yarn, electronics, plastics, carpets and pharmaceuticals.

The sectors which saw the maximum imports were petroleum and oil lubricants, gems and silver, vegetable oil, machinery and chemicals.