News: Indian exports up 41% in September

(TT 25/10/2006) New Delhi - India’s exports grew 41.2 per cent in September to $10.3 billion while imports rose at a faster rate of 49 per cent as trade deficit widened to $24.6 billion in the first six months of this fiscal.

Cumulative exports during April-September 2006-07 rose 37 per cent to $59.32 billion against $43.22 billion in the corresponding period last fiscal, according to the provisional data released by the government today.

Exports grew at more than 40 per cent for the second successive month in 2006-07 to $10.3 billion compared with $7.29 billion in September 2005.

Upbeat over the export figures, commerce minister Kamal Nath said in a statement that the sustained double-digit growth showed India's exports were on a high growth trajectory and the enhanced export target of $125 billion for 2006-07 would definitely be met.

Imports in September 2006 increased by 49 per cent to $15.63 billion from $10.48 billion in the same month last year. Total imports so far this fiscal increased 32.06 per cent at $83.92 billion against $63.55 billion in April-September 2005-06.

Trade deficit during April-September this fiscal has widened 21 per cent to $24.601 billion compared with $20.326 billion in the same period of 2005-06.

Oil imports in September rose 25.77 per cent to $5.09 billion compared with $4.04 billion in the same month last fiscal. Cumulative oil imports in April-September 2006 have increased by 36.83 per cent at $28.66 billion against $20.94 billion in the same period last year.