India’s exports rise 34.8 percent in February

By IANS,

New Delhi: India’s merchandise exports grew 34.8 percent to $16.09 billion (Rs.72,400 crore) for the fourth consecutive month in February following revival of economies in developed countries.


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The rise for the fourth straight month in February comes after 13 successive months of decline since October 2008 on account of the global meltdown.

However, exports during the April-February period declined by 11 percent to Rs.6,88,500 crore ($153 billion) from Rs.7,74,000 crore ($172 billion) in the same period last fiscal, commerce and industry minister Anand Sharma said Wednesday, unveiling of a comprehensive policy document on foreign direct investment.

According to the minister, exports are expected to grow 15 to 20 percent in the 2010-11 fiscal.

Imports rose 66.1 percent to Rs.1,15,200 crore ($25.06 billion) in February against Rs.67,800 crore ($15.08 billion) in the corresponding month in the last fiscal. “It shows that the economy is picking up,” said Sharma.

Cumulative exports in February showed a decline of 13.5 percent to Rs.11,16000 crore ($248 billion) compared to Rs.12,91,500 crore ($287 billion) in the first 11 months of last fiscal.

On the other hand, the net FDI inflow during April-February this fiscal was Rs.1,11,000 crore ($24.68 billion) against Rs.1,14,200 crore ($25.39 billion) during the corresponding period in last fiscal.

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