Exports rise 30%, imports up 23% in June

Exports rise 30%, imports up 23% in June

New Delhi: India’s June exports rose an annual 30% to $17.75 billion, for the eighth straight month, trade secretary Rahul Khullar said on Monday.

Imports for the month rose 23% to $28.3 billion, he said, which would widen the country’s trade deficit to $10.55 billion according to Reuters calculations.

The April-June trade deficit stood at $32.2 billion, with exports during the period rising 32% to $50.8 billion.

Asia’s third-largest economy is targeting close to 15% export growth in the current fiscal year, following a drop of 4.7% in the 2009-10 fiscal year as the global financial crisis-led slowdown crimped demand.