India's exports vault nearly 50 per cent in February

Exports from the country grew at a record 49.8 per cent year-on-year in February 2011 at $23.6 billion, even as its April-February exports crossed the annual 2010-11 target at $208.2 billion, growing at a pace of 31.4 per cent.

India's imports during February 2011, however, stood higher at 31.7 billion, commerce secretary Rahul Khullar said, adding that the country's balance of trade for February stood at $8.1 billion.

Imports during the April-February period, although grew at a slower pace of 18 per cent, stood at $305.3 billion, raising the country's trade deficit so far during the financial year to $97.1 billion.

The figures are only rough estimates and the final figure is subject to change, Khuller said.

With a general revival in exports and a better than expected performance by units in the Special Economic Zones (SEZs), Khuller expects the country's exports to reach $235 billion during the current fiscal.

"We have crossed $200 billion (exports) during February and our forecast for this fiscal would be around $235 billion," Khuller said.