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Exports up 32% in ten months

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By OUR SPECIAL CORRESPONDENT in Delhi
  • Published 1.03.07
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New Delhi, March 1: India’s exports grew 32.22 per cent in April-January 2007 to $99 billion against $74.9 billion during the same period last year, according to the data of the Directorate General of Commercial Intelligence & Statistics (DGCI&S).

However, with imports outstripping exports due to soaring crude oil prices, the trade deficit for April-January, 2007, jumped to $50.6 billion against $33.8 billion in the year-ago period. Exports in January were valued at $9.6 billion against $8.5 billion in 2006.

The cumulative value of imports during April-January, 2007 was $150 billion against $108.8 billion in the corresponding period of the previous year. Imports in January this year increased to $15.4 billion from $11.4 billion in 2006.

Crude oil imports during April-January 2007 were at $48.6 billion, which is 36.4 per cent higher than $35.6 billion last year. Crude oil worth $4.8 billion was imported in January 2007 against $4.2 billion in the year-ago period, a growth of 15.07 per cent.

Non-oil imports increased by 27.32 per cent to $10.6 billion in January against $8.4 billion in January 2006.

Non-oil imports during April-January 2007 were valued at $101 billion, 23.31 per cent higher than $82 billion in April-January 2006.

Meanwhile, the Export Promotion Council for EOUs and SEZs has opposed the proposal to impose minimum alternate tax (MAT) on export oriented units in the budget and demanded its roll back.