Exports to US up by 23.94 % in H1

According to the data compiled by the economic division of the department of commerce, the share of the US in India’s total imports during this period has registered only 0.6 per cent increase at 6.56 per cent compared to 5.9 per cent share in the first half of last fiscal. India’s total imports during this period stood at $28,549.41 million.

To the developed countries of Western Europe, India’s exports in the first six months have gone up by 14.08 per cent while touching $5,864.78 million from $5,140.92 million in the corresponding period last year. However, the share of this region in India’s total exports has declined to 23.39 per cent compared to 24.33 per cent share in total exports registered in the first half of 2001-02.

With a growth rate of 25.25 per cent, exports to Asia and Oceania have gone up to $10,171.45 million compared to $8,120.66 million exports registered in the first half of 2001-02. Nearly 40 per cent of India’s total exports reached to the shores of Asian and Oceanic countries.

However, due to efforts made by the Indian government in the last few months to tap the highly potential Latin American market, India’s exports to Latin American countries have acheived highest growth rate of 38.87 per cent at $673.49 million between April to September this fiscal in comparison to $484.99 million worth of exports registered during the first half of last fiscal.