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With exports growth in negative all eyes now on FTP
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Bikky Khosla | 04 Aug, 2009
There was no letting up as the country's merchandise exports fell for the ninth straight month in June and were valued at $12.82 billion, down 27.7 percent. Exports for the first quarter of this fiscal were down 31.3 percent at $35.43 billion, against $51.55 billion in the corresponding quarter of last fiscal.
And that's not all. Another source of worry is India's import figures of non-oil imports. While we are all talking about demand in our domestic markets, the recent non-oil imports say another story altogether. The rate of fall in non-oil imports range between 10 and 25 percent since February and stood at nearly 25 percent in this quarter, which reflects a rather weak demand in the economy. Thus there was no respite for exporters who were looking at the domestic markets to counter the weak demand from global markets.
Meanwhile, the export figures released on Monday depict an alarming situation as negative growth threatens to continue beyond 10 months if the same situation persists.
I feel that the situation calls for urgent measures on the part of the authorities to pep up exports. With the Foreign Trade Policy (FTP) slated to be announced in a couple of days from now, measures like increase in Drawback and DEPB rates, extension of promotional schemes and income tax holiday for the exports sector need to be brought in so that exporters can factor these benefits in their costing and thus offer competitive prices. Apart from export sops the FTP should also focus on diversifying the country's merchandise exports to untapped markets.
Negative growth in exports for a straight nine months is disturbing and the forthcoming trade policy needs to address the exporters' woes so that the momentum in export growth can be restored.
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PVPP
Tony | Sun Sep 26 05:53:30 2010
ATP Chemicals Group, is the professional manufacturer of Polivinilpirrolidona (PVPP) raw material in China, we have purchased PVPP from them for our wine production.
Winemakers can make a try
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Export growth
Sudhir Mahale | Thu Aug 6 16:23:41 2009
I feel that all actions can not be left to authorities alone. in my whatever little experience, the lethargic response from exporters and supply in dustry as such is responsible for it. for exapmple, mine is a start up merchant auto part export venture. I recieved some very good inquiries from oversees clients. I forwarded them to many manufacturers in India for a qoute, none responded for a month with intense followup and the response was lukewarm. Some are now responding after 3 to 6 months and that too exorbitantly high above target price. I forwarded the same to a Chinese manufacturer and I recieved their quote within 24 hrs. No wonder the Chinese industry is caputuring all our business even though we have all the capabilities. I think the urgent need today is rally together and respond to the need of the hour speedily else we will have no chance to withstand in international compitition. Blaming authorities will not help. Problem lies with us.
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Re: Export growth
Peggy Bohn | Wed Aug 12 16:01:33 2009
I agree w/ Sudhir Mahale. I've had similar experience w/ no response from inquiries for a source of unbleached 100% cotton twill fabric from India but am already buying from a source in China.
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Improve Export With Non-Financial Measures
Dilip Jhaveri | Wed Aug 5 19:21:28 2009
A relative of mine with small designer dresses to Europe finds that his consigning 7 boxes to customs became only 5 boxes. After a bribe they found the other. It is the same every time. What government gives with one hand, customs officials take away from another. Small and medium size enterprises are engines of growth as they work hard to sell. My attempts to import and export from India faced the same problem. I paid countervailing duties that the book clearly said was not due. Until we cleanup we cannot grow.
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Re: Improve Export With Non-Financial Measures
S. Prabhudas | Thu Aug 13 01:38:29 2009
The probem is when for the smallest of the problem, people offer bribe. No wonder nothing moves withot bribe. The customs inspector and Superinetendent raised an objection on our export consignment of Incense Sticks. We were called to "meet' the officers. However clumsy was their objection, that the motive was quite apparent - "shut our mouths". We opposed the customs objections. The matter went to the Deputy Commissioner who upheld the objections raised by the Inspector and the Superintenent. Thereafter, the matter went before the Additional Commissioner and the objection was turned down by the A.C. This appeared to be a clear case of frustrating thee exporter and getting something out. When nothing worked in favour of the Customs officer, they raised the bogey of not allowing wooden incense holder value for the purpose of Duty drawback, only to realise that the dutydrawback was being given on weight and not on value - "whichever is lower". This is he problems exporters have to face. Lower exports and imports means lowwer incomes to customs officer and thus added time to rase unfounded objections.
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EXPORT GROWTH
SUSHIL GUPTA | Wed Aug 5 04:16:19 2009
ALONG WITH INCENTIVES THE CREDIT POLICY AND CHEAP CREDIT NEEDS ATTENTION ALSO THE FOREIGN EXCHANGE PRICING IS IMPORTANT
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Re: EXPORT GROWTH
Ashwin | Wed Aug 5 10:27:34 2009
Hello Bikky,
Quite a few months ago I said that our Government is sleeping and just talking, the situation is very serious for small textile Exporters like us, it is really a do or die situation, we are on very thin wire right now, but I do not think anything will come out from the Authorities. Now they have enough foreign reserves unlike some decades ago when they begged for foreign currency esp from NRIs and Export Community. It is sad but true state of affairs.
Rgds
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Re: Re: EXPORT GROWTH
youngkie lukianto | Thu Aug 6 01:56:55 2009
Dear Mr Khosla,
Thank you for providing very good insight of India. Having read of your articles, there are many concerns on the slow-downs of economy in India.
On the other hand, we are in Indonesia always look at India (as the second fastest growing economy after China) and put thumbs-up on how India overcoming their problems. Many people here advise us to take some India success and apply them in Indonesia.
Regards,
Youngkie Lukianto
Jakarta, Indonesia
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Re: Re: EXPORT GROWTH
K V Patel | Wed Aug 12 04:19:32 2009
hello Mr ashwin, Cam u give me ur company profile? send me mail at patelkveng@gmail.com
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Re: Re: EXPORT GROWTH
Peggy Bohn pbohn@gusmerenterprises.com | Wed Aug 12 16:05:53 2009
Hello Ashwin, maybe your company can supply us with unbleached 100% cotton fabric like we're getting from China?
pbohn@gusmerenterprises.com
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Re: Re: EXPORT GROWTH
carrie | Thu Aug 13 02:32:01 2009
Hi,Ashwin iam carrie ,from china,i believe tht the situation of india economy will be come up soon,for indian is very smart ithink.
we are Textile company,specialising in jacquard fabric ,sofa fabric and curtain .if you have any requirement ,welcome to contact me .
mail:carriehobby@hotmail.com
website:www.hzmsfb.com
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Re: EXPORT GROWTH
jany | Wed Aug 12 06:26:13 2009
hello i am jany from bangladesh i have want export my leather goods,
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Re: Re: EXPORT GROWTH
K. V. Patel | Wed Aug 19 10:51:56 2009
u paid member in tradeindia.com ? please be member in there so u get new good business parter
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