India's exports up 21.7% in three quarters

India's merchandise exports were up 21.7 per cent during the first three quarters of fiscal 2007-08, growing to $111.05 billion from $91.20 billion in the corresponding period of last fiscal.

Official trade data released on Friday, however, showed that in rupee terms the growth was significantly lower at 7.74 per cent during the period under review, indicating the sharp appreciation of the Indian currency this fiscal.

Imports were up 25.97 per cent during the first three quarters, growing to $168.87 billion from $134.05 billion. In rupee terms, the imports were up 11.54 per cent, the data showed.

While oil imports grew 11.68 per cent in dollar terms, non-oil imports were up 32.99 per cent, showed the data released by the commerce ministry.

The trade deficit accordingly for the April-December period was estimated at $57.82 billion, against $42.85 billion in the corresponding period of last fiscal.