India crosses $300 bn exports target

Discussion in 'Economy & Infrastructure' started by Son of Govinda, Apr 13, 2012.

  1. Son of Govinda

    Son of Govinda Regular Member

    Apr 1, 2012
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    India crosses $300 bn exports target - Indian Express

    Despite a challenging economic environment in its major markets of the US and Europe, India crossed the export target of USD 300 billion for 2011-12.

    "I am happy to announce that India's exports have crossed USD 300 billion in the last financial year," Commerce and Industry Minister Anand Sharma told reporters here.

    The sectors that performed very well include engineering, gems and jewellery, textiles, chemicals and pharmaceuticals, Sharma said.

    Total imports last fiscal also grew to USD 485 billion, primarily because of high petroleum prices, he said.

    Imports of petroleum as well as gold and silver rose to USD 150 billion and USD 60 billion, respectively during 2011-12.

    However, these figures are provisional, Commerce Secretary Rahul Khullar said, adding that the final data will be released later this month.

    "We were on course, despite very difficult global scenario, the contraction of demand in some of traditional destinations...diversification into new markets has positively worked towards meeting our target," the minister added.

    Trade deficit, which grew to USD 185 billion, is a big challenge for the current fiscal as well, Sharma said.
  3. Shredder

    Shredder Regular Member

    Oct 13, 2009
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    Not good enough, more focus needs to be set upon manufacturing.
  4. Bachchu Yadav

    Bachchu Yadav Regular Member

    Apr 5, 2012
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    What is good about it .

    Commerce minister announced that .. Export target may reach $350 billion but scaled down after slowdown in export sector.
  5. SLASH

    SLASH Senior Member Senior Member

    Feb 5, 2011
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    India is still a difficult place to business. The government keeps giving freebies to poor. With a population of over 1 billion there is still a shortage of worker. Most of the manufacturing firms have a shortage of labour.

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