New Delhi, June 2: India’s exports grew by an impressive 31.5 per cent in April to $14.40 billion but the growth was marred by the swelling oil bill that pushed the trade deficit up to $9.87 billion.

Figures released by the ministry of commerce and industry showed imports rose 36.6 per cent to $24.2 billion from $17.8 billion a year ago, largely fuelled by growth in oil import.

Exports in April last year stood at $10.95 billion. Oil import alone amounted to $8.02 billion during April this year compared with $5.4 billion in the corresponding period last year.

Non-oil imports during April were estimated at $16.24 billion, showing a growth rate of 32.3 per cent over $12.27 billion in April 2007.

The country’s trade deficit widened to $9.87 billion in the opening month of the current fiscal against $6.81 billion a year ago.

Ganesh Gupta, president of the Federation of Indian Export Organisations said “the growth rate has been mainly on account of shipments of commodities and metals, prices of which are ruling high internationally.”

India mainly exports cotton, basmati, maize, oilmeal, metals, minerals and livestock products.

Indian exporters would also stand to gain from the depreciating rupee, which is hovering around the level of 42-43 to a dollar. Gupta, however, expressed concern over the volatility in the currency value, which leads to uncertainty among exporters while quoting prices in the global market.

Last month, the World Trade Organisation had indicated that global trade would slacken to a six-year low in 2008. However, financial market turbulence and slowdowns in some developed economies had little impact so far.