India’s exports rise 34.8 percent in February

Commerce and Industry Minister Anand Sharma. "Exports could grow 15 to 20 percent in the 2010-11 fiscal," he said on Thursday. Photo: PTI

India's merchandise exports grew 34.8 percent to $16.09 billion for the fourth consecutive month in February following revival of economies in developed countries, official data released Thursday said.

The rise for the fourth straight month in February comes after 13 successive months of decline since October 2008 due to the global meltdown.

India’s exports in February 2010 were valued at $16.09 billion, which was 34.8 per cent higher in dollar terms (26.7 per cent in rupee terms) compared to the corresponding month last year at $119.41 billion, the data released by the commerce and industry ministry said.

However, exports during the April-February period declined by 11.3 percent in dollar terms and 6.1 percent in rupee terms to $153 billion from $172.3 billion in the same period last fiscal.

Imports in February this year also rose 66.4 percent in dollar terms and 56.4 per cent in rupee terms to $25.06 billion against $15.06 billion in the corresponding month in the last fiscal.

The cumulative value of imports from April 2009 to February 2010 declined 13.5 percent in dollar terms and 8.5 percent in rupee terms to $284.4 billion against $288 billion in the corresponding period in the last fiscal.

Commerce and Industry Minister Anand Sharma has said exports could grow 15 to 20 percent in the 2010-11 fiscal.