New Delhi, June 1 (IANS) India’s exports rose 34.4 percent in April to $23.9 billion, while the trade deficit narrowed to $8.9 billion compared to the like period in 2010, according to official data released Wednesday.
Imports in April were valued at $32.8 billion, increasing 14.13 percent when compared to the like month of last year, said a statement from the commerce and industry ministry.
Oil imports during the month were 7.7 percent higher at $10.18 billion, compared to
$9.45 billion in the corresponding period last year. Non-oil imports went up by 17.3 percent to $22.6 billion.
During the month, engineering exports grew a whopping 109 percent, electronic goods by 48 percent, gems and jewellery by 39 percent and petroleum and its products, plastics and linoleum by 30 percent.
Imports of pearls and precious stones went up by 19 percent and gold imports rose by 60 percent.
India’s exports had grown 37.5 percent to $245.9 billion in 2010-11, while its trade deficit fell to $104.8 billion.
The government is targeting increasing exports in the current fiscal by at least 25 percent and to $450 billion by 2013-14.
