India’s FY11 exports up 37.5%; above target: Anand Sharma

India’s FY11 exports up 37.5%; above target: Anand Sharma

New Delhi: India’s exports grew 37.5% to $245.9 billion in the fiscal year that ended in March, trade and commerce minister Anand Sharma said on Tuesday.

The figure comfortably beat the FY11 export target of $200 billion set by India’s trade ministry.

The export growth was largely powered by the engineering goods sector.

Petroleum exports have risen by 50% to $ 42 billionn while the trade gap is at $104.1 billion.

Sharma also expressed concern about recent slowdown in FDI inflow.

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