India’s exports have registered a growth of 49.8% during February 2011, at US $ 23.6 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-February 2010-11, exports have reached a level of US $ 208.2 billion at a growth of 31.4% while the imports were US $ 305.3 billion with a growth of 18% and a trade deficit of US $ 97.1 billion. During the interaction, Shri Khullar informed that India’s imports in February 2011 were US $ 31.7 billion. He further clarified that the import figures are only the rough estimates and the final figure is subject to change. Balance of trade for the month of February stood at – 8.1 billion US dollar.

On the export growth, Shri Khullar said that we have crossed $ 200 billion during February and our forecast for this fiscal would be around $ 235 billion. He also stated that exports from the Special Economic Zones (SEZs) are doing very well and it is expected a huge growth from SEZs.

During April-February 2011, the following sectors have done well viz., engineering, 81% ($ 52.7 billion); gems & jewellery, 5.4% (26.9 billion); POL, 34% ($ 32.9 billion); RMG, 2% ($ 10 billion); manmade fabrics, 14% ($ 3.7 billion); cotton yarn, 43% ($4.9 billion); electronics, 40% ($ 7 billion) plastics, 41% ($ 4.1 billion); chemicals, 22% ($ 7.5 billion); pharmaceuticals, 15% ($ 9.1 billion); carpets, 37% ($ 0.9 billion); leather, 11% ($ 3.3 billion); and marine products, 20% ($ 2.3 billion).

Shri Khullar informed that exports of cotton yarn, iron ore and fruits & vegetables are on the negative growth because of ban on exports on these sectors.

As regards imports during April-February 2011, the growth estimates on the following sectors are POL, 12.5% ($ 88.2 billion); pearls & precious stones, 55% ($ 22 billion); gold & silver, 13.4% ($ 28.6 billion); fertilizers, 6% ($ 6.9 billion); vegetable oils, 18% ($ 6 billion); machinery, 19% ($ 24.3 billion); electronics, 5.6% ($ 20.1 billion); organic & inorganic chemicals, 25% ($ 13.4 billion); coal, 12% ($ 9.2 billion); iron & steel 29% ($ 9.7 billion); and ores and scrap, 31% ($ 9 billion).

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DS/MRS
(Release ID :70796)