Uncategorized

India’s merchandise exports up 36 percent in April

New Delhi, May 19 (IANS) India’s merchandise exports grew by 36.3 percent to $16.9 billion in April as against $12.4 billion in the corresponding month a year ago, a top commerce ministry official said here Wednesday.

In April 2009, India’s exports had contracted around 30 percent from the year-ago period.

‘It is a low base effect. So don’t get carried away by the numbers,’ Commerce Secretary Rahul Khullar said.

Low base effect makes a small increase appear large when the numbers in the comparable period a year ago are too low.

The country’s imports also soared 43 percent to $27.3 billion in April from $19.1 billion a year ago.

With this, the trade deficit for the month went up to $10.4 billion against $6.7 billion in April 2009.

The exports were in the red for 13 successive months, starting October 2008. They started turning positive in November 2009.

The Indian government has set a target of $200 billion-worth merchandise exports for 2010-11 and wants to double the exports by 2014.

Leave a Reply

Your email address will not be published. Required fields are marked *