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Exports surpass set target of USD 300 bn in FY12: Sharma
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SME Times News Bureau | 14 Apr, 2012
Despite sluggish demand
in major markets of the US and Europe, India has crossed the export
target of USD 300 billion for financial year 2011-12, said Anand Sharma,
Union Minister for Commerce and Industry.
"I am happy to
announce that India's exports have crossed USD 300 billion in the last
financial year," said Sharma in New Delhi on Friday.
He said, the sectors that performed very well include engineering, gems and jewellery, textiles, chemicals and pharmaceuticals.
The minister said imports also grew to USD 485 billion, primarily because of high petroleum prices.
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 added.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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