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November 1, 2002 | 1443 IST
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India's Sept exports rise 7.9% to $3.99 billion

India's merchandise exports jumped a healthy 7.9 per cent to $3.99 billion in September over the same month last year, driven by Christmas orders from its key US and European Union markets.

In August, exports rose 6.55 per cent to $3.88 billion.

On a month-on-month basis, export growth slowed in August after racing ahead by a scorching 17.47 per cent in July.

Imports leapt 30.97 per cent to $5.11 billion in September from $3.90 billion in the same month last year, data released by the commerce and industry ministry on Friday showed.

Exports in September 2001 totalled $3.70 billion.

Exports in April-September, the first six months of 2002-03, grew 13.49 per cent to $23.97 billion from $21.12 billion in the same period last year.

Indian exports were flat in the year to March 2002 as demand fell following the September 11 air attacks in the United States.

The government has set an export growth target of 12 per cent for 2002-03 (April-March) but analysts say it may fall short because of slowing global demand.

India, which aims to boost its share of world trade to one per cent by 2007 from 0.67 per cent now, set a similar growth target last year but slashed it to three per cent following the September 11 attacks.

The April-September trade deficit narrowed to $4.30 billion from last year's $4.94 billion.

Data showed imports rose 8.49 per cent between April and September to $28.27 billion from $26.06 billion in the year-ago period. Oil imports between April and September rose 13.43 per cent to $8.73 billion while non-oil imports were up 6.41 per cent to $19.54 billion.

Monetary & Credit Policy 2002-2003
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