India's exports rise by 11.5%

India's exports grew for the third straight month in January at 11.5 per cent to $14.34 billion, helped by pick up in demand for marine products, tobacco, man-made yarn and fruits and vegetables.

However, for the period between April-January 2009-10, exports showed a decline of 17.8 per cent to $131.93 billion from $160.4 billion in the corresponding period last year, an official statement said. Imports, which showed an increase in December 2009, continued the momentum in January and rose 35.5 per cent to $24.70 billion compared to $18.22 billion a year ago.

The trade gap in the month under review increased to $10.36 billion against $5.35 billion in January 2009. The Commerce and Industry Ministry sources said fruits and vegetables, marine products, tobacco and man-made yarn did exceedingly well in January, while sectors like tea, coffee, gems and jewellery, drugs and plastics improved their performance.

However, engineering goods, textiles, jute, carpets, handicrafts and leather continued to fare badly. After falling for 13 months in a row since October 2008, exports re-entered the positive zone in November 2009.