Strong Positive Growth in Exports: Anand Sharma, Indian Exports Grew 54.1 Percent, Indian Exports Growth 54.1 Percent in March, Strong Positive Growth in Indian Exports

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SME Times News Bureau | 11 May, 2010
Commerce and Industry Minister, Anand Sharma said on Monday that the country is maintaining a very "strong positive growth" in exports and expressed his hope to sustain it.

The government on Monday notified that India's merchandise exports grew by 54.1 percent in March to $19.9 billion, but the value of the outward shipments dipped 4.7 percent to $176.5 billion for 2009-10 mainly due to the global meltdown.

The exports in March 2009 stood at $12.9 billion and in 2008-09 at $185.3 billion, data showed.

"The fall of 4.7 percent has been mainly due to the global meltdown, but still we have been able to perform well. The whole world has been affected by the global meltdown. There has been a big slump in traditional markets where we export. Market diversification has actually helped us recover the losses to a great extent," Sharma said in New Delhi.

"April figures will certainly be good," he said when asked about the export data for the month.

On the exports front, the sectors which were in red during 2009-10 include engineering, electronics, handicrafts, carpets and cotton yarn.

"Some sectors continue to hurt badly like engineering, electronic goods, handicrafts and carpets. The Directorate General of Foreign Trade along with commerce ministry officials is conducting the sectoral reviews to find out whether more steps are needed to be taken for the sectors that are getting hurt," Sharma said.

Asked whether the government will extend sops for the exporters, he said: "The process of consultation is a regular exercise done by both commerce and finance ministry officials. We are looking into it."

Marine products, iron ore, tea, tobacco, fruits and vegetables and man-made fibres were the sectors which reported growth in exports during 2009-10.

The government has set a target of $200 billion-worth merchandise exports for 2010-11, the minister said, adding that India wants to double its exports by 2014.