India’s exports surpassed the $300 billion target in 2011-12 despite a slowdown in demand in major markets like the US and Europe, commerce secretary Rahul Khullar has announced.

Exports surged by 21% to $303.7 billion in 2011-12, led by healthy growth in petroleum, pharmaceuticals, and engineering products, Mr Khullar told media while releasing the provisional data. The government had set a target of $300 billion exports for the financial year ended March 31, 2012.

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