Indian exports show a healthy rise after a fall of 20 percent in the first nine months of the current April-to-March financial year compared to the previous year. India’s exports grew by 9.3 percent to USD 14.6 billion (around Rs.68, 000 crore) in December. Strengthening trade ties with Asia and Africa are cited as a major factor for this increase. Imports which fell by 23 percent for the first nine months of the current April-to-March financial year, also saw a growth in December 2009. Imports increased by 27.2 percent to USD 24.75 billion compared to USD 19.45 in December 2008. Imports for the period of April – December 2008-2009 was around USD 253.80 billion as against USD 193.82 billion for the same period this year.
Due to recession exports was affected for 13 straight months and started improving from November 2009. Though the shipments abroad increased by 18.2 percent to USD 13.19 billion in November, merchandise consignments decreased by 20.3 percent to USD 117.58 billion during April-December this fiscal. Overall, the trade deficit in December rose to USD 10.14 billion from USD 6 billion in December 2008.
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