|Follow us on:|
In February 2012, the overseas shipments stood at $25.19 billion.
“Europe is performing better, there is a slight improvement in demand,” Shikaripura Ranganatha Rao, India’s commerce secretary told reporters in New Delhi.
Exporting sectors which performed well include engineering goods, textiles, rice, oil meals, pharmaceutical and chemicals.
Imports also rose by 2.6 per cent to $1.1 billion in the month under review, leaving a trade deficit of $14.92 billion.
Anand Sharma, commerce and industry minister said last week he is optimistic about India touching the $300 billion-mark in exports this fiscal year, although it remains a challenge.
However, during the April-February period of the financial year 2012-13, the country’s overseas shipments declined by 4 per cent to $265.95 billion.
Imports during the 11-month period grew by a mere 0.25 per cent to $448 billion, leaving a trade deficit of $182.1 billion.