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Exports dip for FY'10, up 54% in March
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SME Times News Bureau | 07 May, 2010
India's merchandise exports grew for the fifth consecutive month in March at a healthy 54 percent to USD 19.9 billion, but for the fiscal year (2009-10) as a whole the value of shipments fell 4.7 percent due to the global economic crisis, Commerce Minister Anand Sharma said Thursday.
"The fall has been mainly due to the global meltdown, but still we have been able to perform well," Sharma told reporters in New Delhi, releasing the annual trade data.
Exports during April-March 2009-10 were valued at USD 176.5 billion, while imports during the same period were USD 78.7 billion, a fall of 8.2 percent from the previous fiscal's USD 303.7 billion.
As a result, the trade deficit declined to USD 102 billion, from USD 118 billion in the year-ago period.
For March, exports grew at the fastest pace in six years to USD 19.9 billion compared to the same month of last fiscal. The gains in exports came even as the Indian rupee strengthened for a fourth month in April, the longest winning streak in three years.
The country's merchandise exports, after months in the negative zone, turned positive in November 2009 logging a growth rate of 18 percent to USD 13.2 billion in dollar terms as compared to the year-ago period.
Merchandise exports grew 9 percent to USD 14.6 billion in December, 11.5 percent to USD 14.34 billion in in January, 34.8 percent to USD 16.09 billion in February year-on-year.
Releasing the exports figures, the Commerce Minister added that mercantile export targets for the current fiscal have been set at USD 200 billion, adding that India wants to double exports by 2014 from the current levels.
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use solar thermal energy and thermal passive activities to turn trade deficit in surade surplus
alok | Sat May 8 07:02:07 2010
alok May 07 , 2010 ,18:21 IST
Crude import of 70 to 80 billion $ appears to be sole contributor to 102 billion $ trade deficit. If we spend some time on understanding the magnitude of amount and cheapness of Indian solar thermal energy Indian trade figures can become rosy from dismal. India gets 5000 to 6000 trillion kWh per year free solar thermal energy as against her petroleum consumption of 1 trillion kWh and similar electricity consumption. Please use this energy for cooking, dehydration of global food produce, water heating, water distillation, water purification, direct lighting by skylight systems, direct premise heating by double glassed windows, and other solar passive activities etc. It can solve all problems of India.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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84.35
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82.60 |
UK Pound
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106.35
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102.90 |
Euro
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92.50
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89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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