Indian exports surge ahead.

India’s exports surged by almost 40% during its last financial year, with engineering goods leading the charge.

The latest figures from the Ministry for Commerce and Industry show exports, by value, jumped by 37.5% to reach US$245.9 billion – exceeding the $200 billion milestone for the first time. Imports for the same period stood at $350.3 billion.

Engineering goods by far constituted the largest component of exports, their value passing the $60 billion mark, registering growth of 84.76%.

Exports of petroleum products were in the range of $42.4 billion, up 50.5%, the gems and jewellery sector hit $33.54 billion, up 15.3% and pharmaceuticals exports were worth $10.3 billion, up 15%.

Other major products being shipped abroad included ready-made garments worth $11.1 billion, up 4.23% year on year and agricultural and allied sectors, including tea, coffee, tobacco, spices, cashews, oil meals, fruit and vegetables and marine products, whichwere worth almost $13 billion. However, iron ore exports dropped by 25% to $4.5 billion.

Source : ifw-net.com