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India’s exports up 36% in September, imports grow by 17.2%

Commenting on the data, commerce secretary Rahul Khullar said: “Good news is back. Exports continue to grow over last year, but the heady numbers have gone, it is clear there is deceleration”

New Delhi: India’s exports maintained their growth momentum in September 2011, rising by 36.3% year-on-year to $24.8 billion, though there was a ‘deceleration’ due to uncertainty in the US and Europe, reports PTI quoting commerce secretary Rahul Khullar.

On the other hand, India’s imports grew by 17.2% to $34.6 billion, resulting in a trade deficit of $9.8 billion for the month.

During April-September, 2011-12, the country’s exports increased by 52.1% to $160 billion.

Mr Khullar said there is growth in country’s exports, but a deceleration is clear. “Good news is back. Exports continue to grow over last year, but the heady numbers have gone, it is clear there is deceleration,” he told reporters in New Delhi.

During the first six months this fiscal, imports expanded by 32.4% to $233.5 billion. The trade gap during the period amounted to $73.5 billion.

The sectors that exhibited major growth during the April-September 2011 period include engineering, gems and jewellery and petroleum.

Engineering exports grew by 103% to $46.4 billion, petroleum shipments by 53% to $27 billion and gems and jewellery consignments by 23% to %18.5 billion over the same period last fiscal.

India’s petroleum imports during the six-month period grew by 42% to $70.4 billion.

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