New Delhi: The country exports jumped by annual 37% to $ 37.3 billion in December, the highest monthly number led by strong shipping from sectors such as techniques, textiles, chemicals and gems & jewelry, initial trade data showed on Monday.
The trade deficit widened to $ 21.9 billion.
Imports rose 38% in December to $ 59.3 billion as oil imports jumped by 65.2% to $ 15.9 billion.
Gold imports rose 4.6% to $ 4.7 billion for a month.
Exports are consistently in the range of $ 30 billion or more in nine months of current fiscal year, assisted by improving the global economy and demand for goods from foreign countries.
“At $ 300 billion in the first nine months, we actually have created a historical record of exports,” said Piyush Goyal, Minister of Union for Trade and Industry, Textiles, Consumer Affairs, Food & Public Distribution.
Goyal also said that at $ 103 billion in the October-December period, it was also the highest quarterly export rate.
“We believe we will cross the target of $ 400 billion,” said Goyal.
The minister said the efforts of PM Narendra Modi to establish close relations with various countries at the highest level around the world have helped open the door for a more strategic and comprehensive economic partnership with various countries.
It includes UAE, Australia, England & Canada.