Monday, April 6, 2009

India''s Exports Likely To Decline - April 06, 2009

The downward trend of India''s exports is likely to continue in 2009-10 due to the contraction in demand in the developed markets such as the US and the EU, an industry survey said. "More than 61% of the exporters expect either a decline or flat growth in exports in 2009-10," industry body FICCI said in a survey.

The outlook of the exporters for the fiscal is based on the current position of their order books and the experience in the second half of the last fiscal, it said. For this purpose, around 125 entities were surveyed. After posting an impressive growth of more than 30% in the first six months of 2008-09, the exports started dwindling in October and fell by 12.1% for the first time in five years.

The exports ever since are continuing this downward rally and in February it fell by 21.7%. Moreover, the engineering goods as well as gems and jewellery, chemicals, marine products, tyres and to some extent leather are among the sectors that anticipate negative or zero growth.

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