Exports grow by 32.5% to $20.6 billion in January

India's exports grew by a healthy 32.5% year-on-year to $20.6 billion in January, 2011 on account of increasing demand in the western markets.

During April-January this fiscal, the country's shipments went up by 29.4% to $184.6 billion.

"It is a huge jump...Export performance is pretty damn good...By February, we should cross $200 billion," commerce secretary Rahul Khullar said.

Imports in January, 2011 is estimated to increase by 13.1% to $28.6 billion over the same period last year, leaving a trade deficit of $8 billion during the month under review, Khullar said.

During April-January, 2010-11, imports rose by 17.6% to $273.6 billion.

"The import numbers will be revised," Khullar added.

During the first 10 months of the financial year, trade deficit stood at $89 billion.

Sectors that registered healthy growth during April-January, 2010-11 include gems and jewellery, engineering and petroleum and oil lubricants, he added.