Growth in Imports Sign of Manufacturing Sector Revival, Indian Imports Growth 43.3 Percent in April, Imports Growth Sign of Manufacturing Sector Revival in India, 43.3 Percent Growth in Indian Imports in April

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SME Times News Bureau | 02 Jun, 2010
The Federation of Indian Export Organisations said that growth in imports by 43.3 percent in April, as revealed by the foreign trade data revealed by the government Tuesday, signifies "complete revival" of the manufacturing sector.

FIEO President A. Sakthivel, while reacting to the recently reported export-import figures for April, said that the growth in import by 43.3 percent in April 2010 is sign of complete revival of manufacturing sector which will further facilitate exports in months to come.

India's exports during April, 2010 were valued at US $ 16887 million (Rs.75147 crore) which was 36.2 per cent higher in dollar terms (21.1 per cent in Rupee terms) than the level of US $ 12397 million (Rs.62064 crore) during April, 2009.

Imports during April, 2010 were valued at US $ 27307 million (Rs.121517 crore) representing a growth of 43.3 per cent in dollar terms (27.4 per cent in Rupee terms) over the level of imports valued at US $ 19052 million ( Rs.95377 crore) in April, 2009.

Sakthivel added that the first month figure of the current fiscal is a clear indication that we would be able to meet the export target of US$ 200 billion set for 2010-11.

He, however, added that we need to regularly review our strategy in view of the set back in Euro zone recently and hoped that the crisis will not spread further.