SME Times - FIEO Hails Fastest Export Growth in Six Years, Fastest Export Growth in Six Years in India, India's Fastest Export Growth in Six Years

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Saurabh Gupta | 07 May, 2010
Despite 4.7 percent fall over the fiscal year 2009-10, India's merchandise exports in March have shown fastest growth in the last six years, said A. Sakthivel, President, Federation of Indian Export Organisations (FIEO).

Responding to the trade data released by the Department of Commerce Sakthivel said that exports figure for 2009-10 are better than what we all expected.

According to the recent trade data, exports grew a healthy rate of 54 percent in March to USD 19.9 billion after a 34.8 percent gain in February. Exports are rebounding after an average 16.5 percent drop in 2009 and expanded at the fastest pace since March 2004.

Looking at the sluggish demands, FIEO estimated the exports to be within USD 165 – 170 billion.

However the figure of USD 176.5 billion shows that the initiative taken by the Government has yielded positive result.

President, FIEO said that there is need to look for sector specific measures for sectors which are still not doing well like handicrafts, readymade garments, cotton textiles, engineering goods, carpets , electronic products etc., as these sectors are vital both for overall exports growth and employment generation.