India's exports register 81.8% surge to $29.3 bn during July

NEW DELHI: Indian exports have posted 81.8% rise to $29.3 billion during the month of July. Mr Rahul Khullar, Commerce Secretary, has said that during the period April-July 2011, the exports have touched $108.3-billion mark, witnessing 54% growth.

The imports stood at $ 151 billion with 40% rise along with a trade deficit of $42.7 billion in July. Mr Khullar has also said that India’s imports during July 2011 stood at $40.4 billion, posting 51.5% surge. Moreover, the balance of trade during July 2011 was at $11.1 billion.

In April-July 2011, there are many sectors that have posted significant growth – engineering stood at $31.6 billion, Gems & Jewellery at $12.8 billion, petroleum & oil products at $18.6 billion, manmade yarn & made-ups at $1.73 billion.

Mr Khullar has said that the exports of iron ore, fruits & vegetables and tobacco have not performed well. Reports suggest that the fertilizers import have gained momentum.