Exports rise 21 percent to $18 bn in October

NEW DELHI - India’s exports grew 21.3 percent to $18 billion in October, led by strong growth in engineering, gems and jewellery, leather and marine products, Commerce Secretary Rahul Khullar said Monday.

Total exports during the first seven months of the current fiscal rose 26.8 percent to $121.4 billion, Khullar told reporters here.

Imports grew 26 percent to Rs.194.2 billion during the April-October 2010 period resulting in a trade deficit of $72.8 billion.

India’s imports in October grew 6.8 percent to $27.7 billion resulting in a trade gap of $9.7 billion.

Engineering, gems and jewellery, marine products, petroleum and its products, leather and leather products, led the high growth of exports during the month under review.