India’s exports reach $70 billion
India’s merchandise exports have reached approximately $70 billion during the first eleven months of this fiscal year (April 2004 to February 2005), with clear signs of the surge in the country’s exports continuing with record growth of over 27% during the period April to February. In February 2005 alone, exports are valued at $6.7 billion.
The top 10 Indian exports are: textiles (18.86%); gems & jewellery (16.56%); engineering goods (16.41%); chemicals & related products (15.43%); agri & allied products (8.39%); petroleum products (5.5%); ores & minerals (3.69%); leather & manufactures (2.74%); and marine products (2.08%).
Shri Kamal Nath, Union Minister of Commerce & Industry said: “More than exchange rate variations, the significant increase in exports during the current financial year has been on account of the growing competitiveness of the Indian manufacturing sector and the vigorous export-led growth strategy followed by the government for doubling India’s share in global merchandise trade in the next five years”.
