India’s exports grew by 27 point 6 per cent to 29 point 23 billion dollars in March this year as compared to same period in last year. It grew on account of robust performance by sectors like petroleum, textiles, engineering goods and gems and jewellery.For the full fiscal 2016-17, exports witnessed a growth of 4.71 per cent at 274.64 billion dollar against 262.3 billion in 2015-16.
According to Commerce and Industry Ministry, imports too jumped 45.25 per cent to 39.66 billion dollar last month from 27.3 billion in March 2016.It said, a huge spike in gold imports pushed the trade deficit to 10.43 billion dollar during the month under review from 4.4 billion dollar a year ago.
