Oct. 12 (Bloomberg) -- India’s merchandise export growth slowed for a second straight month in September, the top bureaucrat in the nation’s commerce ministry said.
Merchandise shipments rose 36.3 percent to $24.8 billion from a year earlier, Commerce Secretary Rahul Khullar said in New Delhi today. Exports gained 44.25 percent in August.
Asian nations such as Indonesia and the Philippines have stepped up efforts to shield their economies as Europe’s debt crisis and a faltering recovery in the U.S. curb overseas demand. India’s export target of $300 billion by the end of March is “credible,” Kullar told reporters today.
India’s imports rose 17.2 percent to $34.6 billion in September, Khullar said. The trade deficit was $9.8 billion last month, he said.
--Editors: Cherian Thomas, Sunil Jagtiani
To contact the reporter on this story: Tushar Dhara in New Delhi at email@example.com.
To contact the editor responsible for this story: Stephanie Phang at firstname.lastname@example.org.