Driven by a pick-up demand in the US and Latin American markets, India’s exports rose 32.4 per cent year-on-year to $20.6 billion in January, in line with projections that overall shipments will touch $225 billion this financial year.
During the April-January period of 2010-11, outbound shipments grew by 29.3 per cent to $184.63 billion vis-a-vis the year-ago period, commerce ministry data released today showed.
Apex exporters’ body Federation of Indian Export Organisations (FIEO) said the country’s exports are increasing in new markets of Latin America and Africa, along with the US and especially within Asia.
“The January number is a huge jump. Strategy of going beyond the traditional markets of the US and Europe is paying rich dividends,” FIEO said.
Finance Minister Pranab Mukherjee today said there are several external factors that pose challenges to the Indian economy.