By IANS,
New Delhi : India’s exports surged 37.5 percent to $245.9 billion in 2010-11, substantially surpassing the official target of $200 billion on the back of nearly 85 percent jump in engineering exports, Commerce and Industry Minister Anand Sharma said Tuesday.
“It is indeed heartening to see that our exports for the year ending March 31, 2011, touched $245.9 billion registering a growth of 37.5 percent,” Sharma told reporters here.
The government had set a target of $200 billion of export for 2010-11, which was 15 percent higher than the previous fiscal’s figure.
“Exports have indeed exceeded our expectations. This is the first time exports have crossed $200 billion mark. In fact, beating our target, it crossed $200 billion mark in February itself,” the commerce and industry minister said.
India’s total imports during 2010-11 were $350.3 billion, resulting in a trade deficit of $104.4 billion.