India’s import as well as export falls during FY’10 .

As per the latest data available, India's trade has not seen much of an improvement even though the country's economy has come out of the slowdown.

Both the import as well as export figures for the FY 2010 went down. While the exports went down by 4.7 per cent to touch $176.5 billion as compared to the last year, the import figure was down by 8.2 per cent. The import figures were at $278.7 billion as compared to the last year.

And because of this fall, the trade deficit also went down from $118 billion during the previous fiscal to touch $102 billion for the current period.

Talking to a private news channel, CNBC TV 18, Minister for Commerce and Trade, Anand Sharma said that the fall is inline with the expectations.

He further added that the government will be providing sops to the sectors which have shown decline.

Sharma also clarified that the European crisis has not impacted Indian trade, nor has the appreciation of rupee.

He further added that India is targeting to export as much as $200 billion during the current fiscal and this segment will show a growth rate of 54 per cent.

Source : Top News