India’s exports rise to $29.3 billion in July

August 11th, 2011 - 10:39 pm ICT by IANS  

Pranab Mukherjee New Delhi, Aug 11 (IANS) India’s exports have registered a growth of 81.8 percent year on year during July 2011 at $29.3 billion, owing to good performance by sectors, including petrochemical products, gems and jewellery and electronics, an official said Thursday.

“India’s exports have registered a growth of 81.8 percent during July 2011, at $29.3 billion,” Commerce Secretary Rahul Khullar told reporters here.

Khullar also said that during April-July 2011, exports have reached a level of $108.3 billion, a growth of 54 percent while the imports were $151 billion with a growth of 40 percent and a trade deficit of $42.7 billion.

Talking about India’s imports, he said in July 2011 imports were $40.4 billion registering the growth of 51.5 percent.

The sectors which did well during April-July period include engineering at $31.6 billion, gems and jewellery at $12.8 billion, petroleum and oil products at $18.6 billion, and electronics at $3.72 billion.

However, Khullar also stated that exports of iron ore, fruits and vegetables and tobacco are not doing well.

In a discussion in the Rajya Sabha, Finance Minister Pranab Mukherjee said that exports could get hit because of the sovereign debt downgrade of the US and a probable US double dip recession and if demand slowed in other key markets like Europe.

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