Exports in FY11 seen at $200 bn: trade secretary

Exports in FY11 seen at $200 bn: trade secretary

New Delhi: Indian exports could touch $200 billion in the current fiscal year to end-March and Asia’s third-largest econony’s trade deficit will not top $135 billion, trade secretary Rahul Khullar said on Monday.

India’s exports in October rose an annual 21.3% to $18 billion, while imports for the month grew 6.8% on the year to $27.7 billion, Khullar said earlier.

India’s trade deficit in August had widened to a 23-month high of $13.06 billion and Khullar had said the deficit could touch $135 billion for the year to end-March 2011, higher than his earlier forecast of $120 billion.

India is targeting close to 15% export growth in the current fiscal.

Close