Rupee appreciation could not discourage country's export in the first month of current fiscal year.
Statistics confirm that export in the month of April has shown a growth of 23 percent at US $10.57 billion compared to $8.59 billion last year, but the value is lower than the $12.58 billion worth shipments in March 2006.
However, strong rupee is hitting hard on handicraft and leather items, which have low import content.
Imports in April have shown a growth of 40.69 percent at $7.63 billion compared to $12.53 billion in the same period of last year.
Import of oil surged 11.4 percent to $4.42 billion compared to $3.97 billion in April 2006. Rising imports increased trade deficit to $7 billion.
marketing@alchempro.com
