* India's August exports up 44.2 pct-official
* India's FY12 trade deficit seen above $130 bln
(Adds details, background, bylines)
By Matthias Williams and Arup Roychoudhury
NEW DELHI, Sept 9 India's exports
grew 44 percent in August but a sharp slowdown in growth trends
in a turbulent global economic climate should prompt the
government to support exporters with stimulus measures, Trade
Secretary Rahul Khullar said on Friday.
Indian exporters enjoyed record growth in the last fiscal
year and have notched high double digit growth in recent months,
buoyed by demand for the country's cars, petroleum products and
precious stones. July's reading was more than 80 percent growth.
However, economic turbulence in the United States and
Europe, India's top sales destinations, means growth will likely
slow down further in September and October, he said, likely
bulging the trade deficit for the fiscal year ending March 2012.
Import growth has surged in recent months as India, one of
the world's fastest growing major economies, imports anything
from oil to transport equipment to industrial machinery, despite
recent industrial data pointing to a slowdown.
"I don't know when, something will have to be done," Trade
Secretary Rahul Khullar told reporters, when asked whether the
government would provide stimulus measures for exporters.
"Up till now we have had a good run, but you could be
looking at difficulties down the road. If you want to prevent
them, then you better kick in now with action."
India's August exports rose 44.2 percent to $24.3 billion,
while imports for the month rose 41.8 percent to
$38.4 billion, leaving a trade deficit of $14.1
billion, Khullar said on Friday.
The trade deficit has shown a widening trend over the last
three months. It widened to $14.1 billion in August from $11.1
billion in July, and $7.7 billion in June.
Khullar warned that trade deficit for the current fiscal
that ends in March could top $130 billion. The trade deficit for
fiscal year 2010/11 stood at $104.8 billion.
(Writing by Abhijit Neogy; editing by Aradhana Aravindan)