In November the value of India's exports of merchandise reached its highest level since June, 1937, states the "Manchester Guardian" Many of India's staple exports—cotton, hemp, jute, hides and skins, oil &c.—are important raw materials for wartime uses and have risen sharply in price since the war began, and these two factors are producing satisfactory results.
Imports in November, while substantially larger than in October, still fell short of the August level, so that the favourable balance of trade in me ise alone was unusually large, at over Rs.500 lacs. Trade in merchandise and treasure combined showed a balance in India's favour of Rs.744 lacs which, while it compares with Rs.861 lacs for October (when there was a very large net export of gold), is well above the average for other recent months. The following table illustrates the position (In lacs of rupees: One lac=£7,500.)
Nov. Oct. Nov. Api-Nov.
1989 1999 1938 1939 1938
1400 1594 12,537 11179 1033 1,338 10400 9,000
4m 190 2077 1,479
45 1,552 1070
*3 x9 155
67 1232 915
Text read from the printed page and cleaned; old type leaves the occasional error.