Exports rose 47 percent to 35 35.17 billion in July

New Delhi: The country's exports grew by 47.19 per cent to 35 35.17 billion in July on the back of strong growth in petroleum, engineering and diamond and jewelery sectors, according to data provided by the Commerce Ministry.

Imports also rose 59.38 per cent to 46 46.40 billion during the period. As a result, the trade deficit was .2 11.23 billion. Exports of petroleum, engineering, diamonds and jewelery rose to 3. 3.82 billion, 2. 2.82 billion and 9 1.95 billion in July, respectively.

However, exports of oilseeds, rice and meat, dairy and poultry products showed negative growth. Imports of petroleum, crude and products rose 97 per cent to 6. 6.35 billion. Gold imports rose 135.5 per cent to 2.42 billion. Exports of gems, precious and semi-precious stones stood at 68 1.68 billion at the end of July.

Even if exports of transport equipment, project goods and silver show negative rates. US. Exports to the UAE and Belgium stood at 4 2.4 billion, 1. 1.21 billion and 48 489 million, respectively.

As of July, India's merchandise exports were up 32.64 per cent against a target of 400 billion. During the remaining eight months, India is expected to achieve an export target of 26 269.44 billion, or 33 33.68 billion per month, the Commerce Ministry said.

Commenting on the figures, A Saktivel, president of the Federation of Indian Export Organizations (FIEO), said there was also a surge in order bookings from exporters as global demand picked up during the period. The urgent need now is to issue a declaration on Remittance of Duties and Taxes on Exported Products (RODTEP) to remove uncertainty from the minds of trade and industry.