India's exports have risen 40 per cent year-on-year in June to $9.9 billion, boosting hopes of achieving $126 billion worth of exports this fiscal.
The imports during June were up 23.98 per cent to $13.7 billion, pushing up the trade deficit to $3.8 billion as against $4.0 billion last fiscal.
The growth in June has pushed up the export growth in the first quarter (April-June) to $32.4 billion to $27.6 billion.
Imports in the April-June quarter were up 24.48 per cent to $40.2 billion. The trade deficit in the first quarter of this fiscal increased to $12.6 billion from $11.4 billion last fiscal.
"The sustained buoyancy of India's exports reflects the effectiveness of various policy measures taken by the government and growing global competitiveness of Indian enterprises, especially manufacturing which accounts for 75 per cent of the exports," Kamal Nath, Commerce Minister said.
"At this rate, I am confident that India's merchandise exports will hit $126 billion this year, representing doubling of exports within just three years - something unprecedented anywhere else," he added.