The Mint Report for 25 October 2010

The Mint Report for 25 October 2010

India’s trade deficit has fallen to a six-month low. The deficit for September was a mere nine point one two billion dollars. In August it stood at more than $13 billion. India’s international trade grew during September on a year-on-year basis. The country’s exports climbed 23.2% to about $18 billion. Imports meanwhile went up 26.1% to more than $27 billion. Commerce minister Anand Sharma said India’s exports were on track to grow 15% in the current fiscal and cross the $200 billion mark. The country’s exports have been growing since October last, while imports have surged since November.

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And India’s biggest FMCG company has beaten expectations with its quarterly numbers. HUL reported a 32% rise in net profit to 566 crore. And net sales went up ten point seven percent to four thousand six hundred eighty-one crores.

HUL’s numbers were helped along by a one-time gain of 40 crore. The company’s numbers have been under pressure because of a price war with rivals like Procter and Gamble and Godrej Consumer Products.