India's exports grew year-on-year by 10.8 percent to USD 19.9 billion in October while imports expanded at a sharper rate, leaving a big trade deficit of USD 19.6 billion.
Imports
increased by 21.7 percent to USD 39.5 billion in October, according to
data released by Commerce Secretary Rahul Khullar in New Delhi on
Tuesday.
For
the cumulative April-October period, exports aggregated to USD 179.8
billion, showing a handsome growth of 46 percent, thanks to sterling
trend witnessed in the previous months of the current fiscal.
Imports
for the seven-month period stood at USD 273.5 billion growing by 31
percent, while leaving the trade gap of USD 93.7 billion.
"Exports growth continues to look good and every sector is posting good growth," Khullar said.
However,
he said, the balance of trade "is something to be very worried about
because at this rate you are going to breach the USD 150 billion mark
(for the fiscal 2011-12)."(DD-8.11)
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