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India will meet $200 export target for FY11: FIEO
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SME Times News Bureau | 20 May, 2010
The Federation of Indian Export Organisations (FIEO) has said that the first month export figures of the current fiscal is a clear indication that the country would be able to meet the export target of USD 200 billion set for 2010-11.
According to official figures released on Wednesday, India's merchandise exports posted a staggering 36.2 percent growth in April to USD 16.9 billion y-o-y on back of high overseas demand.
FIEO President, A. Sakthivel welcomed the recently reported export figures, adding that growth in import by 43.3 percent in April 2010 is an indication of complete revival of manufacturing sector which will further facilitate exports in months to come.
He, however, added that there is need to renew the position in exports front in view of the setback in Euro zone recently and hoped that the crisis will not spread further.
Recently, a crisis of confidence in Europe has been triggered by a potential debt default by Greece. The European Union and the International Monetary Fund (IMF) have announced a $1 trillion emergency financial aid package, which is expected to stabilise world financial markets and curb speculative attacks on the Euro.
Sakthivel said that the government needs to provide concessional export credit even when the base rate becomes operational as the interest rate in India is much above the rate at which credit is available to our competitors.
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use solar energy to reduce trade deficit and fuel inflaion
alok | Thu May 20 12:23:28 2010
Oil import bill of 8 billion $ appears to be sole contributor to 10.4 billion $ trade deficit in first month of FY 10 11. 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. It is many times cheaper than LPG and SKO if used directly without converting it in electricity. Please use this free energy for cooking for all living creatures, dehydration of global food produce, water heating, water distillation, water purification, steam making, direct lighting by skylight systems, direct premise heating by double glassed windows, and other solar passive activities etc. This will greatly help reduction of petro products consumption. It will also help reducing fuel inflation thus will be of great help in economic growth.
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