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The March figures pushed up exports by 38 percent to $246 billion for the fiscal year to March 2011, according to the figures.
The rise came as key US and European markets improved and India's strategy of diversifying its export markets to Latin America and Africa also paid off, they added.
‘The diversification strategy is paying off and the country is set to reap the dividends,’ Federation of Indian Export Organisations President Ramu S. Deora said.
Exports in the current 2011-12 fiscal year are expected to cross $300 billion and could touch $500 billion by 2014-15, Deora forecast.