Exports rise 17.3% to $14 bn in first 2 weeks of March

Showing healthy signs of revival, India’s exports grew 17.3% to $14.22 billion during March 1-14 compared with a year earlier, according to the Commerce Ministry’s preliminary data.

Imports during the period increased 27.8% to $22.24 billion, leaving a trade deficit of $8.02 billion, the data showed.

The key sectors that recorded healthy growth in exports include engineering, rice, gems and jewellery.

Leather, oilseeds slump

However, exports of leather, oilseeds and ready-made garments of all textiles contracted during the period.

Import of gold, electronic goods and pearls as wel as precious and semi-precious stones registered growth during the same period.

Growing for the third consecutive month, the country’s exports rose marginally by 0.67% to $27.93 billion in February, compared with the same period in the previous year, even as trade deficit widened to $12.62 billion.