India: Exports remain sluggish in April
June 1, 2012
In April, the trade balance narrowed to a USD 13.5 billion deficit, down from the USD 13.9 billion deficit recorded in the previous month. Imports amounted to USD 37.9 billion, which represents a 3.8% increase over the same month last year, down from the 24.3% rise recorded in March. Meanwhile, exports declined from USD 28.7 billion in March to USD 24.5 billion in April. The figure represents a 3.2% increase in annual terms, which contrasts the 5.7% decline observed in March. India aims at reaching a 20% increase in exports this current fiscal year and has set an ambitious USD 500 billion target for the fiscal year 2014/15.