May exports surge 35 pct

Asia8217;s third-largest economy is targeting close to 15 per cent export growth in the current fiscal year. India8217;s exports dropped 4.7 per cent in the 2009/10 fiscal year as the global slowdown crimped demand.

Commerce Secretary Rahul Khullar,who released May8217;s provisional trade data in mid-June,said demand has picked up for India8217;s iron ore,oil and leather goods,but the 35 per cent jump in exports was flattered by a low level of shipments in 2009.

The trade deficit was the highest since November 2008,spurred by high demand for oil as well as iron and steel to fuel India8217;s fast-paced industrial growth,Khullar had said.