India’s export is reported to have remarkably increased by 81.1% to $29.3 billion, as well as imports, which went up by 51.5% to USD 40.4 billion, with a trade deficit of $11.1 billion.

The Commerce Secretary, Rahul Khullar stated: “Exports have done well, but my sense is that high export growth is not going to sustain. We will see slowdown by this month".

From April to July 2011, the shipments went up by 54 % to $108.3 billion. Imports grew by 40% to USD 151 billion, and in a similar period, the trade deficit remained $42.7 billion.

Hence, sectors that had healthy growth in the period included engineering, petroleum products, gems, jewelry and readymade garments.

However, India's merchandise export was on a role in July, though it’s said; “the brisk pace of growth may soon start to stutter as global economic uncertainties crimp the export prospects of Asia's third-largest economy”.

Imports in July went up by 51.5% to $40.4 billion, increasing the trade deficit to $11.1 billion from $7.7 billion during June.

India, irrespective of the moderation in the growth of, is said to reach its merchandise export target of $300 billion for this fiscal year.