|Date: 01/05/2012 Time: 02:36:00 PM
India's total exports grew by nearly 21 per cent
during the fiscal year April 2011-March 2012 at USD 303.7 billion, as compared
to the last fiscal year, said the official figures released by the country's
Ministry of Commerce and Industry, Tuesday.
The exports figures marginally crossed the target of USD 300 billion set by
the Indian Government for the fiscal 2011-12.
On the other hand, total imports shot up by 32.1 per cent to USD 488.6
billion, leaving highest-ever trade deficit of USD 184.9 billion. Expressing
concerns at the widening trade deficit, Commerce Secretary Rahul Khullar said
the widening trade deficit was posing "a serious challenge for the economy".
During March 2012, exports fell by 5.71 per cent to USD 28.68 billion (as
compared to March 2011), while imports grew by 24.2 per cent at USD 42.58
billion leaving a trade gap of USD 13.9 billion.
According to the official figures, oil and non-oil imports during the month
increased by 32.45 per cent and 19.91 per cent to USD 15.83 billion and USD 26.
75 billion, respectively. On the other hand, oil and non-oil imports grew by
46.88 per cent and 26.23 per cent to USD 155.63 billion and USD 263.80