| Exports for Nov up 57% at $9.7bn |
| BS Reporter / New Delhi December 20, 2006 |
| Exports during November 2006 stood at $9.68 billion, a healthy 57% increase on a year-on-year basis, as compared to $ 6.16 billion in the same month last year. Exports during October this year stood at $9.6 billion, indicating that the growth momentum is being maintained this year. The trade deficit for the first eight months (April to November) in financial year 2006-07 rose by $8.4 billion at $36.04 billion, which is 30% higher than the deficit of $27.64 billion during the same period in 2005. The month of November witnessed a huge trade deficit of $6.2 billion, nearly the same as the previous month. Commerce minister Kamal Nath said the country would meet the export target of $125 billion for the current fiscal. Foreign direct investment (FDI) inflows to the country for the month of October has also registered an increase of 312% over the corresponding month last year and stood at $1.7 billion. Over the April to October period, FDI inflows stood at $ 6.1 billion, an increase of 134% over the corresponding period last year. For the month of October, the highest amount of FDI inflow came from Mauritius ($1.1 billion.) As per the foreign trade data released by Director General of Commercial Intelligence and Statistics, the cumulative value of merchandise exports in the first eight months (April-November) of financial year 2006-07 increased by 39% at $79.58 billion. The drivers for the export growth came from gems and jewelry, engineering goods, basic chemicals and petroleum products. India |
