India’s Exports Rise to the Highest in the Past 15 Months

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Growing for the second straight month, India’s exports touched $14.6 billion in December.

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This is the highest in the past 15 months, helped by an uptick in demand for merchandise in the western markets.

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“We have registered exports of $14.6 billion in December,” commerce and industry minister Anand Sharma told.

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The December growth is about 16% from a year ago, while the expansion is about 10% compared to shipments in November this fiscal.

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The two straight months of growth comes after exports fell for 13 months in a row since October 2008.

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Sharma said going ahead the momentum would be maintained.

He, however, added that exporters are yet to recover from the setback of the past 13 months.

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Sectors like engineering, auto components and pharma helped exports rise again.

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Analysts said December growth has come about on a low base last year when the global demand dropped sharply due to the global recession.

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The December figure reflects the best ever performance since August 2008 when exporters shipped goods worth $16 billion.

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Demand for the Indian products seems to be reviving in the western markets. 🙂

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🙂