Export grows by 36.4 percent: Commerce Secretary

Export grows by 36.4 percent: Commerce SecretaryAccording to the data revealed by the Commerce Ministry the country's overseas selling has amazingly increased by 36.4 % towards the end of December 2010.

This magnificent increment has shown the profit of $22.5 billion which is the maximum in the last 33 months of exporting. With that there is news of decrease in imports by 11.1 % which has been certainly stated as the lowest in the last 14 months.

Dr. Rahul Khullar, the Commerce Secretary informs the reporters that if this exporting rhythm is maintained for 2010-11 then it would be a record breaking year.

The expectations are $215 to 225 billion to create a new record. Imports throughout April-December may increase by 19 % towards $247.1 billion. This increment leads to a trade shortfall of $82.4 billion. Because of this export flow the trade shortage for the economy will be $118 to 120 billion.

The President of Federation of Indian Export Organizations Mr. Ramu S. Dero has stated that India should take part in the overseas market which may encourage the growth of India. This can provide the country a development boom in exports.