Exports rose 6.97% at $30.8 billion compared to $28.8 billion in the same year earlier month. Imports fell 2.87% to $41.16 billion in March. The trade deficit in March totalled $10.31 billion lower than the $13.5 billion recorded in March, 2012.
India missed the annual exports target of $350 billion set for 2012-13 as the slowdown in key markets hurt shipments but a small recovery in the past three months held out hopes of a better show in the months ahead.
Official data released on Thursday showed exports fell 1.76% in 2012-13 and totalled $300.6 billion lower than the previous year's $305.9 billion.
The country's exports sector has been hit hard by the slowdown in markets such as the US and European Union (EU) and has been a factor in the widening of the current account deficit (CAD). High input costs have also hurt the sector. Courtesy : TOI