Merchandise exports grew 27.6 per cent in March, the final month of the 2016-17 financial year, the steepest rate in a little over five years. However, this failed to help outbound shipment cross $300 billion in FY17, for a second straight year.

Exports were $305 billion in 2011-12 and remained a little over $300 billion in the next three years. These, however, declined to $269 billion in 2015-16. The official data issued on Thursday showed an export rise for a seventh straight month in March to $29.2 billion, against $22.9 billion in the same month a year before, as ...