| Date: |
28-05-2010 |
| Subject: |
India's Imports Jump 43.3% in April |
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India’s imports surged by a never-seen-before $8 billion in April, indicating the rapid pace of domestic economic activity, even as the government downplayed the 36.2 per cent jump in exports.
The “real interesting story here is the huge surge in imports because I have never seen numbers this large... $8 billion jump in a month,” Commerce Secretary Rahul Khullar said on May 19.
Imports were up by a huge 43.3 per cent to $27.3 billion in the first month of the current fiscal, indicating that the domestic industry was consuming more and its output could grow. Factory production has also been rising steadily, with a 13.5% growth in March and 10.4 per cent for 2009-10.
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