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Indian exports witness over 12 percent growth
Tuesday, 02 March 2004, 20:30 IST
NEW DELHI: Belying fears of a slowdown in exports due to the rupee appreciating against the dollar, India's overseas merchandise trade has chalked up a healthy 12.83 percent growth during April-January 2003-04.
Exports during the 10-month period were worth $47.5 billion as against $42.1 billion in the corresponding period in the previous year, the commerce ministry said Monday.
In rupee terms, the exports were 7.11 percent higher with a total of 
2.19 trillion during April-January.
To achieve the target of one percent of global trade by 2007, India needs to have over 11 percent consecutive growth. In 2002-03, India had notched over 19 percent growth in exports.
Exports during January were valued at $5.12 billion, which was 8.74 percent higher than the level of $4.71 billion during the corresponding month in the past year.
In rupee terms, exports in January were worth 232.63 billion, or 3.12 percent higher than the value of trade during the corresponding month in 2003.
During the 10-month period under study, India's imports grew 24.70 percent and were valued at $61.93 billion as against $49.67 billion in 2002-03.
Higher import bills for crude oil, however, contributed to the inflated import bill.
In rupee terms, imports increased to 2.85 trillion from 2.41 trillion, a growth of 18.40 percent.
Depending on imports for 69 percent of its domestic oil requirements, India's import bill for April-January was $16.64 billion, or 15.91 percent higher than oil imports valued at $14.36 billion in the previous fiscal.
Non-oil imports during April-January were estimated at $45.29 billion, or 28.27 percent higher than the level of such imports valued at $35.31 billion in 2002-03.
Imports during January were valued at $6.58 billion, representing an increase of 18.11 percent over imports worth $5.57 billion in the same month last year.
In rupee terms, imports increased by 12 percent during January over the previous year.
The trade deficit for April-January was estimated at $14.43 billion, which is higher than the deficit of $7.57 billion during the previous fiscal, the official data showed.
Source: IANS
2.19 trillion during April-January.
To achieve the target of one percent of global trade by 2007, India needs to have over 11 percent consecutive growth. In 2002-03, India had notched over 19 percent growth in exports.
Exports during January were valued at $5.12 billion, which was 8.74 percent higher than the level of $4.71 billion during the corresponding month in the past year.
In rupee terms, exports in January were worth 232.63 billion, or 3.12 percent higher than the value of trade during the corresponding month in 2003.
During the 10-month period under study, India's imports grew 24.70 percent and were valued at $61.93 billion as against $49.67 billion in 2002-03.
Higher import bills for crude oil, however, contributed to the inflated import bill.
In rupee terms, imports increased to 2.85 trillion from 2.41 trillion, a growth of 18.40 percent.
Depending on imports for 69 percent of its domestic oil requirements, India's import bill for April-January was $16.64 billion, or 15.91 percent higher than oil imports valued at $14.36 billion in the previous fiscal.
Non-oil imports during April-January were estimated at $45.29 billion, or 28.27 percent higher than the level of such imports valued at $35.31 billion in 2002-03.
Imports during January were valued at $6.58 billion, representing an increase of 18.11 percent over imports worth $5.57 billion in the same month last year.
In rupee terms, imports increased by 12 percent during January over the previous year.
The trade deficit for April-January was estimated at $14.43 billion, which is higher than the deficit of $7.57 billion during the previous fiscal, the official data showed.
Source: IANS