India's January exports up 10.1% at $25.4 bn

India's exports in the month of January grew by 10.1 per cent to $25.4 billion, while imports grew 20.3 per cent at $40.1 billion year on year, said Commerce Secretary Rahul Khullar said on Thursday. 

India's trade deficit in January stood at $14.7 billion against $12.8 billion in December month on month.

"India's monthly trade gap is likely to narrow in the next two months. We are seeing visible signs of import growth slowdown in February," he added.

For the April-January period, exports increased by an annualised 23.5 per cent at $242.8 billion, while imports for the same period rose by 29.4 per cent at $391.5 billion.

Khullar expects India's exports to be between $295 billion and $305 billion for the fiscal year. " Exports are likely to touch $297 billion, while the trade gap is seen around $160 billion in FY12," he said.

"The prime minister will make a public announcement on the Europe-India Free Trade Agreement tomorrow. Aiming to enhance trade ties with Iran, will send business delegation to Iran by end of this month," added Khullar.

Export-Import growth table year on year (YoY)

January 2012       10.1%     2.29%
December 2011    6.7%       19.8% 
November 2011    3.9%       24.6%
October 2011       10.8%      21.7%