<p>It said the outlook for India’s trade has brightened with good growth of 29.5 per cent during the April-December, 2010-11, period. Imports grew by 19 per cent during the period.<br /><br />“Current indications are that India will not only achieve the target of US$200 billion but surpass it in 2010-11... The gradual withdrawal of stimulus measures by India and other countries is not likely to adversely affect India’s rising exports,” the survey said. <br />However, it said there is a need to remain vigilant about any fallout from the financial turbulence in the euro zone and the new disturbances in the Middle East.<br /><br />It said that the slowdown in import growth from October, 2010, and a rise in exports from November, 2010, has helped bridge the trade gap.<br /><br />“Although the concerns on the trade deficit front have subsided with a pickup in exports in the last five months and slowdown in imports in the last three months of 2010-11 (April-December), the situation needs to be watched,” it said.<br /><br />Also, the deceleration in the net surplus of services trade is a “cause of worry” on the “current account deficit,” it added.<br /><br />Further, it said that the rising inflation could erode agricultural exports. “This has necessitated the formation of a systematic inflation-tackling mechanism with early warning systems, rather than resorting to ad hoc policy measures,” the survey said.<br />During April-December period of current fiscal, outbound shipments grew by 29.5 per cent to US$164.7 billion.<br /><br />Imports during April-December, 2010, stood at US$246.72 billion, as against US$207.31 billion over the same period last year. The trade deficit during April-December stood at US$82 billion, marginally higher than US$80.13 billion in the corresponding period last fiscal. The survey said the country needs to focus more on engineering sector exports, which contribute over 20 per cent to total merchandise shipments.<br /><br />On services exports, it said that India is moving towards services-dominated export growth.</p>
<p>It said the outlook for India’s trade has brightened with good growth of 29.5 per cent during the April-December, 2010-11, period. Imports grew by 19 per cent during the period.<br /><br />“Current indications are that India will not only achieve the target of US$200 billion but surpass it in 2010-11... The gradual withdrawal of stimulus measures by India and other countries is not likely to adversely affect India’s rising exports,” the survey said. <br />However, it said there is a need to remain vigilant about any fallout from the financial turbulence in the euro zone and the new disturbances in the Middle East.<br /><br />It said that the slowdown in import growth from October, 2010, and a rise in exports from November, 2010, has helped bridge the trade gap.<br /><br />“Although the concerns on the trade deficit front have subsided with a pickup in exports in the last five months and slowdown in imports in the last three months of 2010-11 (April-December), the situation needs to be watched,” it said.<br /><br />Also, the deceleration in the net surplus of services trade is a “cause of worry” on the “current account deficit,” it added.<br /><br />Further, it said that the rising inflation could erode agricultural exports. “This has necessitated the formation of a systematic inflation-tackling mechanism with early warning systems, rather than resorting to ad hoc policy measures,” the survey said.<br />During April-December period of current fiscal, outbound shipments grew by 29.5 per cent to US$164.7 billion.<br /><br />Imports during April-December, 2010, stood at US$246.72 billion, as against US$207.31 billion over the same period last year. The trade deficit during April-December stood at US$82 billion, marginally higher than US$80.13 billion in the corresponding period last fiscal. The survey said the country needs to focus more on engineering sector exports, which contribute over 20 per cent to total merchandise shipments.<br /><br />On services exports, it said that India is moving towards services-dominated export growth.</p>