India's export growth slowed sharply in July on weakening demand from Western markets, government figures showed Tuesday, and the pace could slacken further with the global recovery faltering. India's exports rose in July by 13.2 per cent to 16.24 billion dollars from a year earlier, the commerce ministry statement said. The increase was down sharply from growth of over 30 percent year-on-year registered in April, May and June.
"There is going to be a slowdown in the world in the next six months - that will translate into a contraction in aggregate demand for our exports," Commerce Secretary Rahul Khullar told reporters. However, Khullar said India would be able to meet its export target of 200 billion dollars for this fiscal year to March 2011, up from 182 billion dollars last year.