Sectors that helped in pushing exports include petroleum products which grew 38.3%
IIndia's exports boosted up by 7.33 per cent in July - Representational Picture (Photo: Associated Press)
New Delhi: Indian exports in June grew by 10.22 per cent but trade deficit jumped to an 11-month high due to rise in gold imports. Exports came at $26.5 billion in June while imports for the first time in 13 months were up 8.3 per cent to $38.2 billion in June.
Sectors that helped in pushing exports in June include petroleum products which grew by 38.3 per cent, engineering by 21.57 per cent, leather by 15 per cent, marine products by 27.49 per cent, oil seeds by 44.4 per cent and tobacco by 31 per cent. However, exports of tea, coffee, gems and jewellery, electronic goods and iron ore saw a contraction in June. The smart rise of over 21 per cent in exports of engineering goods at $5.4 billion in June has come about on the back of fast improving situation in the US.
“We are getting good number of orders from the US so much so that our domestic manufacturing infrastructure is not able to support the same,” said chairman of the EEPC India, Anupam Shah. Gold imports which were declining for seven months, grew by 65.13 per cent to $3.12 billion in June. Imports of gold in June 2013 were $1.88 billion.
( Source : dc correspondent )
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