India’s exports rise by 9.3%
New Delhi, Feb. 1: India’s exports rose for the second month in a row in December after declining for a year as overseas markets have started showing signs of recovery.
The exports in December rose by 9.3 per cent at $14 billion.
"Looking at revival of growth in most of the economies and increasing reliance of Indian exports on diversification of markets, the positive growth will continue in next three months as well," said Federation of Indian Export Organisation (FIEO), president, Mr A. Sakthivel.
India’s main export market US had grown by 5.7 percent in the last quarter, which was the fastest growth in the six years.
However, Mr Sakthivel said that export for the current fiscal will be less than previous.
"Achieving exports of $170 billion this year should be satisfying looking at the dismal performance of some of the
export led economies," he added.
Imports turned positive for the first time in December since the financial crisis at $24.8 billion — a growth of 27 per cent. The growth in imports was led by both oil (up 42.8 per cent) and non-oil (up by 22.4 per cent).
The trade deficit widened to $10.1 billion — highest seen since November 2008.
AGE CORRESPONDENT
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