May 6, 2010 5:06 PM

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Indian export grows 54 percent in March

Indian export has shown a growth of 54 percent in the month of March as compared to last year. Briefing media persons, Commerce and Industry Minister said that the exports in the month of March have risen from 12.92 billion dollars in 2008-09 to 19.9 billion dollars in 2009-10. He said, however, total exports in the last fiscal were 176.5 billion dollars which was 4.7% less than the previous year. Mr. Sharma said that imports also did not grow on the expected lines and recorded a decline of 8.2% last year. He said however, FDI remained the same at 35 billion dollars. Mr. Sharma said this was due to the impact of Global Economic Recession but Indian trade is going strong on the path to recovery. The government has identified 41 markets in the world including China and Japan to improve the exports of the country. Mr. Sharma said Director General Foreign Trade is conducting a sectorial review of the situation and a report will be submitted by July. The Minister said government is planning a long term exim policy and after that steps will be taken to improve the sectors which have registered a negative growth.

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