June exports up 30 pct y/y

India’s June exports rose an annual 30 per cent to $17.75 billion, for the eighth straight month, Trade Secretary Rahul Khullar said on Monday.

Imports for the month rose 23 per cent to $28.3 billion, he said, which would widen the country’s trade deficit to $10.55 billion according to Reuters calculations.

The April-June trade deficit stood at $32.2 billion, with exports during the period rising 32 per cent to $50.8 billion.

India is targeting close to 15 per cent export growth in the current fiscal year, following a drop of 4.7 per cent in the 2009/10 fiscal year as the global financial crisis-led slowdown crimped demand.

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