Monday, November 29, 1999

Export growth stays on course in May

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New Delhi, June 18 (PTI) Growth in India''s exports remained robust, as overseas shipments expanded by 35.1 per cent to USD 16.9 billion in May on the back of improving demand in western markets. Exports grew for the seventh month in a row since November 2009, after a 13-month trough due to recession in several markets. However, Commerce Secretary Rahul Khullar said it is too early for celebrations. "Don''t get carried away by these numbers because the base (in the comparable period last year) was low," he told reporters here today. The growth in May took place on a rock bottom performance a year ago. Imports, too, grew by 30.8 per cent to USD 27.4 billion year-on-year. During April-May 2010, exports stood at USD 33 billion, a jump of 35.7 per cent over the year ago period. During the first two months of the current fiscal, imports went up by 29.1 per cent to USD 54.7 billion over the year ago period, according to the Commerce Secretary. Trade deficit for April-May was USD 21.7 billion. However, Khullar added, "Yes, we are doing much better than last year." PTI RR NKD RK.

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