Exports grew by 10.1 percent year-on-year to USD 25.4 billion, while imports increased by 20.3 percent in January, Commerce Secretary Rahul Khullar said on Thursday.

Imports stood at USD 40.1 billion in January 2012, resulting in a trade deficit of USD 14.7 billion.

During April-January 2011-12, the country’s exports increased by 23.5 percent to USD 242.8 billion.

Imports grew by 29.4 percent to USD 391.5 billion during the 10 months period. The trade deficit stood at USD 148.7 billion for the period.

“What you are looking at now is exports for the fiscal around USD 300 billion, imports at about USD 460 billion with a balance of trade of about USD 160 billion, ” Khullar told reporters in New Delhi on Thursday.