Exports cross $51B in 7 months

By agencies   |   Thursday, 17 November 2005, 08:00 Hrs
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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.

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