India's trade deficit set to top $135 billion in FY11
25 Oct 2010
India's annual trade deficit is expected to top $135 billion in the current financial year (April-March 2010-11) as imports into the country continue to outpace exports by a huge margin, commerce secretary Rahul Khullar said today.
Imports into the country rose 26.1 per cent year-on-year to $27.14 billion in September 2010 while India's exports grew 23.2 per cent to $18.02 billion during the month.
India's trade gap during September 2010 has, however, narrowed to around $12 billion from the 23-month high of $13 billion reached in the previous month.
During April-September 2010, India's exports grew 27.6 per cent to $103.3 billion while the imports rose 29.9 per cent to $166.5 billion, commerce secretary Rahul Khuller said today.
India's trade deficit for the first half of the current financial year (April-September 20010-11) stood at $63.2 billion.
Yet, with exports already reaching a level of $103.3 billion, Khullar said the country is well on course to achieve the target of $200 billion during the current financial year.