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Annual exports grow fastest | Fastest exports grow since Independence Current Affairs

 

India’s exports surged 37.5% in 2010-11-their fastest annual growth since independence-despite a strong rupee and weak demand in developed markets, data released on 19th April, 2011 showed.

The country shipped goods worth $245.9 billion during the year as attempts to diversify markets and increase regional trade paid off. Exports surpassed the government’s initial target of $200 billion. “This is the highest annual percentage growth in exports (in dollar terms)”.

An emboldened government has set an export target of $450 billion for 2013-14. It will target a 25% rise in exports in the current fiscal. Exports in March added to $29.1 billion, highest for a single month so far. The base effect, however, contributed to a part of the rise.
Exports had fallen 3.5% in 2009-10 because of the global financial crisis.

Robust growth in exports and slower rise in imports helped the government contain trade deficit at $104 billion as against a worrying mid-year estimate of $130 billion.

 

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Updated: May 31, 2013 — 1:43 pm

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