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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