Skip to main content

Advertisement

Advertisement

Business

India's July merchandise exports up 49.9per cent y/y

India's July merchandise exports up 49.9per cent y/y

FILE PHOTO: An employee works at the production line of Rajnagar textile mill in Ahmedabad September 10, 2013. REUTERS/Amit Dave

NEW DELHI : India's merchandise exports rose for the eighth straight month in July to US$35.43 billion, up 49.85per cent from a year earlier, revised trade data released by the government showed on Friday.

Imports in July rose 62.99per cent to US$46.40 billion, driven by a rise in oil and gold imports, resulting in a trade deficit of US$10.97 billion, a statement from the Ministry of Commerce and Industry said.

India has set a target of US$400 billion in merchandise exports for the current fiscal year ending in March 2022, compared to US$291.2 billion in the previous fiscal year.

(Reporting by Manoj Kumar and Aftab Ahmed; Editing by Kevin Liffey)

Source: Reuters

Advertisement

Also worth reading

Advertisement