India misses export target in FY15; annual exports dip 1.23 pct

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New Delhi | Published: April 17, 2015 7:44:20 PM

Indian exports at USD 310.5 billion for 2014-15 missed the annual target by 11.52 per cent as March quarter shipments saw a steep fall of 21.06 per cent...

India export, India export target, fiscal deficit, Indian economy, trade deficit, India newsCompared to previous fiscal, exports in 2014-15 are also down by a marginal 1.23 per cent. (Reuters)

Indian exports at USD 310.5 billion for 2014-15 missed the annual target by 11.52 per cent as March quarter shipments saw a steep fall of 21.06 per cent.

India had set a target of USD 340 billion for 2014-15.

Compared to previous fiscal, exports in 2014-15 are also down by a marginal 1.23 per cent.

Imports too dipped by 0.59 per cent to USD 447.5 billion in 2014-15, leaving a trade deficit of USD 137 billion in the last fiscal.

In March, exports dipped by 21.06 per cent year-on-year to USD 23.95 billion. Imports contracted by 13.44 per cent to USD 35.74 billion, leaving a trade deficit of USD 11.79 billion.

Gold imports during the month, however, almost doubled to USD 4.98 billion.

Oil imports declined by 52.68 per cent to USD 7.41 billion in March.

Oil imports during April-March, 2014-15 were valued at USD 138.26 billion which were 16.09 per cent lower than USD 164.77 million in the corresponding period of previous fiscal.

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