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India’s exports up by 49.8% to $23.6 billion in Feb

During April-February 2010-2011, the country's merchandise shipments grew by 31.4% to $208.2 billion, surpassing the export target of $200 billion for the entire 2010-11 fiscal

New Delhi: India's rose by 49.8% year-on-year to $23.6 billion in February on the back of increased demand from markets like North America, Asia and Africa, reports PTI.

During April-February 2010-2011, the country's merchandise shipments grew by 31.4% to $208.2 billion, surpassing the export target of $200 billion for the entire 2010-11 fiscal.

"We have crossed the $200 billion mark... The current forecast for the year is $230-$235 billion," commerce secretary Rahul Khullar told reporters here.

Imports also went up in February, rising by 21.2% to $31.7 billion, leaving a trade gap of $8.1 billion, Mr Khullar said.

During April-February 2010-2011, imports grew by 18% to $305.3 billion. During the 11-month period, the trade deficit amounted at $97.1 billion.

"We will end up (the fiscal) closer to $350 billion imports," Mr Khullar added.

The export sectors that performed well during the April 2010-February 2011 period include gems and jewellery, engineering, ready-made garments, cotton yarn, electronics, plastics, carpets and pharmaceuticals.

The sectors which saw the maximum imports were petroleum and oil lubricants, gems and silver, vegetable oil, machinery and chemicals.

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