| Date: |
26-11-2010 |
| Subject: |
India: Sharp Jump in Exports Helps Trim Down Trade Deficit |
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According to the Department of Commerce India, exports in September were US$18 billion, up 23% compared to September 2009. The result was the highest in 24 months. September imports in India grew 26% to US$27 billion compared to last year. As a result, the trade deficit in September decreased to US$9.1 billion from $13 billion recorded in August.
The Indian economy is forecast to grow by 8.5% - 9.7% in the fiscal 2010-2011. The main driver for the economic growth is domestic demand, according to the Ministry of Finance India. In addition, IMF revised the forecast for Indian economic growth to 9.7% in 2010 and this is expected to encourage more foreign investments in the Indian equity markets.
Source : ihb.de
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