Exports cross $51B in 7 months

By agencies   |   Thursday, 17 November 2005, 08:00 Hrs
Printer Print Email Email
NEW DELHI: India's exports crossed $50 billion in the first seven months of the current year, even as it registered a 27.54 percent growth during October 2005 at $8.08 billion as compared to $6.33 billion in the year-ago period.

Imports continued to grow at a faster pace, widening the trade deficit for the first seven months of 2005-06 to $23.51 billion as against $14.18 billion in the corresponding period last fiscal.

Buoyed by the impressive growth, Commerce Minister Kamal Nath said the exports this fiscal are likely to touch $100 billion as against the target of $92 billion for this fiscal. Exports stood at about $75 billion during 2004-05.

India's exports during April-October 2005-06 grew 22.08 percent to $51.52 billion as compared to $42.2 billion during the same period last fiscal.

Imports grew 31.6 percent during October 2005 to $11.36 billion from $8.63 billion in the same month in 2004. The imports during April-October 2005-06 are valued at $75.03 billion, representing an increase of 33.08 percent over $56.38 billion a year ago.

SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..