India's exports grow by 35%

India's exports remained robust, as overseas shipments expanded by 35.1 per cent to $16.1 billion in May on the back of improving demand in western markets.

Exports grew for the seventh month in a row since November 2009, after a 13-month trough due to recession in several markets.

However, Commerce Secretary Rahul Khullar said it is too early for celebrations. "Don't get carried away by these numbers because the base (in the comparable period last year) was low," he said.

The growth in May took place on a rock bottom performance a year ago. Imports, too, grew by 30.8 per cent to $27.4 billion year-on-year.

During April-May 2010, exports stood at $33 billion, a jump of 35.7 per cent over the year ago period. During the first two months of the current fiscal, imports went up by 29.1 per cent to $54.7 billion over the year ago period, according to the Commerce Secretary.

Trade deficit for April-May was $21.7 billion. However, Khullar added, "Yes, we are doing much better than last year."