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India's exports show robust 15.65 percent growth
Thursday, 02 January 2003, 20:30 IST
NEW DELHI: Belying fears of a slowdown, India's exports in the first eight months of 2002-03 registered a robust 15.65 percent growth over the corresponding period last fiscal.
The exports were valued at $32.86 billion as compared to $28.42 billion in April-November 2001-02, the Directorate General of Commercial Intelligence and Statistics (DGCI&S) said Wednesday.
In rupee terms, the exports were worth 
1.60 trillion, which is 18.87 percent higher than value of overseas trade during the corresponding period last fiscal.
During November, India's exports witnessed 15.62 percent growth with a value of $4.14 billion as against $3.58 billion in the corresponding month last year.
In rupee terms, exports in November were worth 199.53 billion, which is 16.25 percent higher than the value of exports during the corresponding month in the last fiscal.
India's imports during April-November were valued at $39.11 billion, an increase of 14.25 percent over $34.23 billion during the same period in 2001-02 fiscal.
In rupee terms, the imports increased by 17.47 percent during April-November 2002-2003.
Volatility in the crude oil prices on fears of a conflict in Iraq saw India's oil import bill during April- November rising 21.09 percent to reach $11.73 billion, as against $9.686.26 million in the corresponding period of last fiscal. This is despite the fact that there was no significant increase in the crude oil imports by India, which depends on overseas supplies for 70 percent of its requirement.
Non-oil imports during April-November were estimated at $27.38 billion, which is 11.56 percent higher than the level of such imports valued at $24.54 billion in the corresponding period in 2001-2002.
The surge in non-oil imports has been as a result of a pick up in manufacturing sector, which has helped India clock a high 5.8 percent gross domestic product (GDP) growth in the second quarter of the 2002-03 fiscal despite a widespread drought leading to a flat growth in the farm sector.
Imports during November were valued at $5.36 billion, registering an increase of 28.95 percent over the level of imports valued at $4.16 billion in November 2001. In rupee terms, the increase in imports is 29.65 percent.
India's trade deficit for April-November is estimated at $6.25 billion, which is higher than the deficit of $5.81 billion during the same period in 2001-2002.
Source: IANS
1.60 trillion, which is 18.87 percent higher than value of overseas trade during the corresponding period last fiscal.
During November, India's exports witnessed 15.62 percent growth with a value of $4.14 billion as against $3.58 billion in the corresponding month last year.
In rupee terms, exports in November were worth 199.53 billion, which is 16.25 percent higher than the value of exports during the corresponding month in the last fiscal.
India's imports during April-November were valued at $39.11 billion, an increase of 14.25 percent over $34.23 billion during the same period in 2001-02 fiscal.
In rupee terms, the imports increased by 17.47 percent during April-November 2002-2003.
Volatility in the crude oil prices on fears of a conflict in Iraq saw India's oil import bill during April- November rising 21.09 percent to reach $11.73 billion, as against $9.686.26 million in the corresponding period of last fiscal. This is despite the fact that there was no significant increase in the crude oil imports by India, which depends on overseas supplies for 70 percent of its requirement.
Non-oil imports during April-November were estimated at $27.38 billion, which is 11.56 percent higher than the level of such imports valued at $24.54 billion in the corresponding period in 2001-2002.
The surge in non-oil imports has been as a result of a pick up in manufacturing sector, which has helped India clock a high 5.8 percent gross domestic product (GDP) growth in the second quarter of the 2002-03 fiscal despite a widespread drought leading to a flat growth in the farm sector.
Imports during November were valued at $5.36 billion, registering an increase of 28.95 percent over the level of imports valued at $4.16 billion in November 2001. In rupee terms, the increase in imports is 29.65 percent.
India's trade deficit for April-November is estimated at $6.25 billion, which is higher than the deficit of $5.81 billion during the same period in 2001-2002.
Source: IANS