India's merchandise exports shot up by 21.3 per cent, year-on-year, to $18 billion in October this fiscal, while import grew by 6.8 per cent, Commerce Secretary Rahul Khullar said today.
Imports for October stood at $27.7 billion, widening the trade gap to $9.7 billion.
During April-October 2011, exports have aggregated to $121.4 billion, increasing by 26.8 per cent.
The cumulative imports for this period went up to $194.2 billion leaving a large trade gap of $72.8 billion. Imports during the first seven month of this fiscal have grown by 26 per cent.
"For the first time, you see after a long long time when exports growth cumulatively is higher than imports growth," Khullar said.
He also said almost all the sectors have reported positive growth in October, while tobacco, cashew, handicrafts and iron ore sectors have registered negative growth.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app