Exports Rise 21%, Outpace Imports.

NEW DELHI: For the first time this year, India's exports outpaced imports in October to ease concerns over ballooning trade deficit and raise hopes that Asia's third-largest economy  will be able to ship merchandise worth more than $200 billion in the ongoing fiscal. Commerce secretary Rahul Khullar on Monday said exports rose 21.3% to $18 billion in October, while imports for the month grew 6.8% to $27.7 billion. The country's trade deficit stood at $9.7 billion under review against $9.12 billion in September.

Trade deficit in August had widened to a 23-month high of over $13 billion and Khullar had said the deficit could touch $135 billion for the entire fiscal, higher than his earlier forecast for $120 billion . Government is targeting close to 15% export growth in the current fiscal. On Sunday, commerce minister Anand Sharma said the merchandise shipments will cross the $200-billion target for 2010-11 . TNN

Source : timesofindia.indiatimes.com