India’s exports jump 80%

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India’s exports in July jumped by a record 81.8 per cent year-on-year to $US29.3 billion ($A28.86 billion) due to the improved performance of sectors like engineering, petrochemical products and gems and jewellery, a Commerce Ministry official said Thursday.

The high rate of growth was, however, unlikely to be sustained due to the uncertainties in the United States and European markets, Commerce Secretary Rahul Khullar was quoted as saying by state-run Doordarshan television channel.

“Exports have done well… It is simply not sustainable. We should see immediately by August-September growth rates slipping,” Khullar said.

Overseas shipments of Indian products grew by 54 per cent to $US108.3 billion ($A106.66 billion) in April-July. Imports in the same period grew by 40 per cent to $US151 billion ($A148.72 billion).

Khullar said Indian exports were registering good growth in new markets like Latin America and Africa.

The US and Europe together account for 35 per cent of India’s exports.