The country's exports went up by 37.55 per cent to $245.86 billion during FY2010-11, demonstrating robust demand for Indian merchandise not just in Western economies, but in new markets like Latin America and Africa as well.Imports, however, were higher at $350.69 billion in FY2010-11, despite growing at a lower pace of 21.6 per cent amid increasing crude oil prices.
This translates into a trade deficit of $104.82 billion for the 2010-11
fiscal.
With respect to the month of March, 2011, India's exports rose by a handsome 43.85 per cent to $29.1 billion vis-à-vis the same month of the previous financial year, according to data released by the Commerce Ministry on Monday.
On the other hand, imports in March totalled $34.7 billion, up 17.27 per cent year-on-year.
The country's total merchandise trade has almost touched $600 billion - half of India's gross domestic product of $1.2 trillion.
