India's exports grew by over 36 per cent on an annual basis to 24.8 billion dollars in September, 2011, demonstrating impressive year-on-year expansion despite a slowdown in the US and Europe.Last year in September, the country's outbound shipments were valued at 18.2 billion dollars.According to an official press release, India's imports also registered growth in September, rising by 17.2 per cent in comparison to the corresponding period of the previous year leaving a trade deficit of 9.7 billion dollars.AIR correspondent adds, though down from the 44.2 per cent growth rate recorded in August, the rise in exports in September can be considered robust, given the economic woes in the US and the debt crisis in Europe.The US and Europe are the two biggest markets for Indian merchandise, accounting for about 30 per cent of total shipments. Commerce Secretary Rahul Khullar had said that total exports may reach 290-300 billion US dollars in the current fiscal.
News On AIR | November 1, 2011 12:47 PM