Dr. A Sakthivel Chairman AEPC, has congratulated Minister of Commerce & Industry, Shri Anand Sharma for the double digit growth in exports which was 12.97 billion US $.
Dr. Sakthivel also congratulated the Minister for efforts that led to the reduction in trade deficit which stood at 10.9 billion US $ for the month of August 2013.
Dr. Sakthivel thanked Shri Sharma for all support. The garment industry could achieve US$12.92 bn exports in 2012-13 & modest 13% growth in April – July, 2013 due to Policy Support given by Government, he said.
Chairman AEPC also applauded the efforts made by Shri K S Rao, the Union Textiles Minister for boosting exports.
Exports during August, 2013 were valued at US $ 26135.94 million (Rs. 165202.15 crore) which was 12.97 per cent higher in Dollar terms (28.53 per cent higher in Rupee terms) than the level of US $ 23134.47 million (Rs. 128534.68 crore) during August, 2012.
Cumulative value of exports for the period April-August 2013 -14 was US $ 124426.07 million (Rs724733.44 crore) as against US $ 119771.91 million (Rs. 654859.77 crore) registering a growth of 3.89 per cent in Dollar terms and growth of 10.67 per cent in Rupee terms over the same period last year.
Imports during August, 2013 were valued at US $ 37053.85 million (Rs.234212.93 crore) representing a negative growth of 0.68 per cent in Dollar terms and growth of 12.99 per cent in Rupee terms over the level of imports valued at US $ 37307.27 million (Rs. 207278.42 crore) in August, 2012.
Cumulative value of imports for the period April-August, 2013-14 was US $ 197792.14 million (Rs. 1146140.26 crore) as against US $ 194442.45 million (Rs. 1062866.95 crore) registering a growth of 1.72 per cent in Dollar terms and growth of 7.83 per cent in Rupee terms over the same period last year.
The trade deficit for April-August, 2013-14 was estimated at US $ 73366.07 million which was lower than the deficit of US $ 74670.54 million during April-August, 2012-13.