India Records 36.2% Growth In April

India Records 36.2% Growth In AprilAccording to official data, the country's merchandise exports grew by 36.2% to $16.9 billion for the sixth straight month during April after 13 successive months of fall.

The exports stood at $12.4 billion in April 2009.

During the last financial year, exports declined 4.7% as a worldwide slump had hurt demand for its products.

The administration has projected a 15% increase in exports in 2010-11.

The data said that India's imports during the month under review (April 2010) increased by 43.3% to $27.3 billion as compared to $19 billion in April 2009.

With this, the trade deficit surged to $10.4 billion as against $6.6 billion in 2009.

The oil imports increased 70.5% to $8 billion in April 2010 as against $4.7 billion in the corresponding period last year and non-oil imports increased by 34.3% to $19.2 billion from $14.3 billion in April 2009.

Trade experts attribute the jump in exports during the last few months to a low base effect. And there are some fears that the continuing debt crisis in the euro-zone could supress demand. (With Inputs from Agencies)