Exports in India rose by an estimated 6.7 percent from a year earlier to $25 billion, while imports were $37.8 billion, leaving a trade deficit of $12.8 billion, commerce secretary Rahul Khullar said today
“It is not rosy… I am not saying that exports from India will not grow, but in a better time, when things were more buoyant, they would grow faster,” he said.
The next fiscal year, starting on April 1, may be difficult for exports, he added. “If you get anything between 20-22 percent (growth) I would be more than happy in 2012-13.”
Indian exporters enjoyed record growth last fiscal year, but have struggled in recent months in the face of economic turbulence in the euro zone, India’s biggest trade partner.
Exports between April-December rose 25.8 percent to $217.6 billion, Khullar said.
The trade deficit is expected to be $155 billion to $160 billion for the full fiscal year ending March, while exports are expected to be close to $300 billion, he said.