Exports show robust 46.4% growth in June

The country's exports rose 46.4 per cent year-on-year in June to $29.2 billion - the third successive month of robust growth. This came on the back of robust shipment of engineering goods, gems and jewellery, leather and marine products, commerce secretary Rahul Khullar said on Friday.

Merchandise exports have continued their growth trend in the current fiscal year and grew nearly 57 per cent - thought this is expected to moderate in the coming months as demand remains sluggish in major global markets.

The government has also diversified its export basket and is concentrating on capturing market share in non-traditional markets.

Imports in June totalled $36.9 billion, showing a growth of 42.4 per cent from the year-ago period, and the trade deficit during the month stood at $7.7 billion.

During the first three months of the current fiscal year exports rose 45.7 per cent year-on-year to $79 billion, while imports grew 36 per cent and the trade deficit for the period stood at $31.6 billion, Khullar said.

However, he cautioned that the figures were provisional and subject to change.