labels: economy - general
$100-billion exports targetnews
15 November 2005

Chennai: The country's merchandise exports during October 2005 crossed $8 billion, a 28 per cent increase over the $ 6.3 billion levels in October 2004.

Total exports during April-October 2005-06 amounted to almost $ 51 billion representing a cumulative growth rate of over 22 per cent in seven months over exports during April-October 2004-05.

Though the government has set an export target of $93 billion for the current fiscal, it is egging exporters to actually reach $100 billion. India's services exports alone could touch $ 50 billion this year.

Imports (excluding oil) during the same period (April-October 2005-06) amounted to $50 billion. Oil imports during this period are valued at almost $ 25 billion. Thus, excluding oil, the overall trade balance is surplus for India.



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$100-billion exports target