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Exports grow 21percent at $303.7 bn

 

AGENCIES | New Delhi, May 1, 2012 12:39
Tags : Exports rises | Fiscal Deficit widens | Export target |
 

India's exports grew 21 percent and marginally crossed the exports target at USD 303.7 billion in 2011-12 over the previous fiscal.

Imports shot up by 32.1 percent to USD 488.6 billion, leaving highest-ever trade deficit of USD 184.9 billion, according to the Commerce Ministry data released today.

During March, exports fell 5.71 per cent to USD 28.68 billion, while imports grew by 24.2 percent at USD 42.58 billion leaving a trade gap of USD 13.9 billion.

Oil and non-oil imports during the month increased by 32.45 percent and 19.91 percent to USD 15.83 billion and USD 26.75 billion respectively.

During the entire 2011-12, Oil and non-oil imports grew by 46.88 percent and 26.23 percent to USD 155.63 billion and USD 263.80 billion respectively.

Commerce Secretary Rahul Khullar has said the widening trade deficit is posing a serious challenge for the economy.

The government had set export target of USD 300 billion for 2011-12.

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Issue Dated: Feb 5, 2017