October 25, 2006	Wednesday	Shawwal 1, 1427

NEW DELHI, Oct 24: India’s exports in the first six months of the current fiscal year rose 37 per cent to $59.32 billion as against $43.22 billion in the corresponding period last year, the government said on Tuesday.

Trade deficit, however, widened 49 per cent to $24.6 billion in April-September mainly due to oil import costs, according to figures released by the government.Exports grew at more than 40 per cent for the second successive month in September to $10.3 billion as compared to $7.29 billion in the corresponding month in 2005, the government’s Central Statistical Institute said in the released data.

Imports in September also increased by 49 per cent to $15.63 billion from $10.48 billion in the same month last year, it said.

The government, however, appeared upbeat over India’s improved trade performance.

“The sustained double-digit growth shows India's exports were on a high growth trajectory and the enhanced export target of $125 billion for 2006-2007 would definitely be met,” Commerce Minister Kamal Nath said in a statement.

Nath's commerce ministry earlier this year had forecast a 20 per cent rise in exports for fiscal year ending March 2007 to $120 billion on the back of higher earnings from services such as outsourcing and manufacturing.

For the year ended March 2006 annual exports jumped 25 per cent to cross the $100 billion mark.—AFP