India's exports grow by 22.5% in August

India's exports grew by 22.5 per cent in August to 16 billion US Dollars. Improved global demand for Indian merchandise has boosted the exports. Imports also jumped by a higher rate of 32.2 per cent to 29 billion US Dollars in the month. This has resulted in a trade deficit of 13 billion US Dollars.

Target for the current fiscal has been fixed at 200 billion US Dollars. During April-August this fiscal, exports grew by 28.6 per cent to 85.27 billion US Dollars.

The sectors registering healthy exports growth include cotton yarn, gems and jewellery, iron ore, engineering and petroleum, oil and lubricants. However, the readymade garments, handicrafts, handlooms and carpets sectors are still in bad shape.