India''s trade deficit widened 40.5 per cent in the fiscal year ended March 31,
this year to $56.74 billion despite an upward revision in export data for the
April-February 2006-07 period.
announcing the March 2007 foreign trade data, the commerce ministry has announced
an upward revision of export data for April-February 2006-07 by about $3 billion.
by the government showed that for March this year the trade deficit fell to $3.8
billion from $4.66 billion in February as import growth slowed.
expansion in Asia''s fourth-largest economy has seen the deficit grow over the
past few months. It stood at $5.78 billion in January, $5.68 billion in December
2006, and $6.20 billion in November.
this revision, India''s merchandise exports during the 2006-07 would have fallen
short by another $125 billion.
in March grew 8.84 per cent to $12.58 billion compared with $11.56 billion in
the same month a year ago as the impact of a rising rupee hit exporters. Imports
during the month rose 14.45 per cent to $16.38 billion compared with $14.31 billion
in March 2006.
for the full year stood at $124.63 billion, up 21 per cent compared with $103.06
billion in 2005-06, while imports rose 26.45 per cent to $181.37 billion compared
with $143.43 billion in the year-ago period.
imports in 2006-07 stood at $57.27 billion, up 30.3 per cent compared with $43.95
billion in 2005-06. India imports more than 70 per cent of its oil needs and robust
industrial growth has raised demands for fuel.
is aiming at 28 per cent growth in exports at $160 billion for the
fiscal year to March 2008, trade minister Kamal Nath has said.
has also set a target of $200 billion in exports for the fiscal year that ends
in March 2009.