July exports jump 82% to $29.3 bn

July exports jump 82% to $29.3 bn

New Delhi: India’s exports in July rose an annual 82% to $29.3 billion, while imports for the month rose 51.5% to $40.4 billion, government data showed on Thursday.

India’s trade deficit in July stood at $11.1 billion, it said, while oil imports rose 37.02% from a year ago to $11.45 billion.

India’s exports grew a record 37.6% in the 2010-11 fiscal year that ended in March, but last month trade secretary Rahul Khullar said that India “would be lucky" to achieve 20% annual exports growth in the current financial year.

Khullar also warned growth in exports is expected to slow down from August-September.