India''s
exports have revved up in July as compared to a year ago,
with companies such as Steel Authority of India Ltd stepping
up sales to China and Tata Motors Ltd establishing new
markets overseas.
Exports rose 26.8 per cent to $7.2 billion in July, as
compared to the 19 per cent growth in June, the commerce
and industry ministry said in a statement in New Delhi.
Imports rose 33 per cent to $9.9 billion in July, widening
the trade deficit to $2.6 billion from $1.7 billion a
year ago.
Exports, currently account for a 10th of India''s $661
billion economy. India wants to export goods worth $92
billion in the year
to March 31, more than the $88 billion forecast earlier.
Non-oil imports in April to July this year rose 38 per
cent to $29 billion, while oil imports rose 32 per cent
to $12.5 billion during the period.
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