The new Congress-led government in India under Manmohan Singh got a boost with exports surging up by almost 20 per cent and infrastructure growth doubling to 9.0 per cent in April, the first month of this fiscal year.
India's exports started on a positive note with a 19.95 per cent rise at US$5.01 billion in April, from US$4.18 billion a year ago.
"The significant factor is that exports in all sectors have shown an increase in April, which augurs well for the economy," trade analysts said.
The country's imports rose by 20.78 per cent at US$6.75 billion as against US$5.59 billion in April 2003.
The new Commerce Minister Kamal Nath has already indicated that the government would streamline procedures and encourage foreign direct investment, especially in Export-oriented Units and Special Economic Zones, in a bid to maintain double-digit growth and capture 1.0 per cent global trade aggregating US$80 billion by 2006-07.
