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India's FY12 Exports Up By 21%; Imports Rise By 32%

India's exports during the fiscal year 2012 registered a growth of 21 percent at $303.7 billion, while imports were $488.6 billion with a growth of around 32 percent and Trade Deficit at $184.9 billion,
Commerce Secretary Rahul Khullar said.

With regard to exports, the sectors that witnessed a growth during April 2011-March 2012 were engineering 17 percent ($58.2 billion), petroleum & oil products 39 percent ($ 57.5 billion), Gems & Jewellery 13 percent ($45.9 billion), Drugs and pharmaceuticals 23 percent ($13.1 billion ), leather 23 percent ($4.2 billion), electronics, nine percent ($9 billion), Cotton yarn and fabric made-up 17 percent ($7.2 billion), Readymade garments yarns and fabrics 18 percent ($13.7 billion), Manmade yarns and fabrics 19 percent ($5.1 billion), Marine products 31 percent ($3.4 billion) .

As regards imports, the POL saw a growth of around 47 percent ($155.6 billion), Gold and silver 44.4 percent ($61.5 billion), coal, 80 percent ($17.6 billion), machinery 28 7 percent ($35.4 billion), electronics goods, 23 percent ($32.7 billion), coal 80 percent ($17.6 billion), Iron & Steel 15 percent ($11.9 billion), Vegetable oil 48 5 percent ($9.7 billion), Fertilizer 59 percent ($11 billion), and Gems & Jewellery witnessed a negative growth of around 11 percent ($31 billion) .

The Commerce Secretary clarified that the figures are only the rough estimates and the final figure is subject to change.

by RTTNews Staff Writer

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