India's exports up 36% in Sep, imports grow by 17.2%

India's exports maintained their growth momentum in September, 2011, rising by 36.3 per cent year-on-year to $24.8 billion, though there was a "deceleration" due to uncertainty in the US and Europe, Commerce Secretary Rahul Khullar said on Wednesday.

On the other hand, India's imports grew by 17.2 per cent to $34.6 billion, resulting in a trade deficit of $9.8 billion for the month.

During April-September, 2011-12, the country's exports increased by 52.1 per cent to $160 billion.

Khullar said there is growth in country's exports, but a deceleration is clear. "Good news is back. Export continue to grow

over last year, but the heady numbers have gone, it is clear there is deceleration," he told reporters.

During the first six months this fiscal, imports expanded by 32.4 per cent to $233.5 billion. The trade gap during the period amounted to $73.5 billion.

The sectors that exhibited major growth during the April-September, 2011, period include engineering, gems and jewellery and petroleum.

Engineering exports grew by 103 per cent to $46.4 billion, petroleum shipments by 53 per cent to $27 billion and gems and jewellery consignments by 23 per cent to $18.5 billion vis-a-vis the same period last fiscal.

India's petroleum imports during the six-month period grew by 42 per cent to $70.4 billion.