The exports of India declined by 29% in June 2009, Union minister for commerce & industry Anand Sharma told the Rajya Sabha on Wednesday. The country''s exports are experiencing a declining trend for the last nine months. The growth in exports had registered a fall of 29.2% at $11 billion in May 2009 while the fall was 34% in April 2009. As per a sample study conducted by the commerce department, 648 exporting units in India reported a loss of Rs 8,982 crore between August 2008 and April 2009.
The exporting units in 17 sectors witnessed job loss of 134,593 people during the period, another survey conducted by the department on retrenchment said.
"This does not reflect the total job losses, which would be higher," minister of state of commerce & industry Jyotiraditya M Scindia informed the House.
Mr Sharma said the pace of export fall had begun to recede and expressed optimism that the measures announced by the Finance Minister in the budget would help the export sector.
The finance minister in the budget decided to continue with the interest rate subvention (discount) scheme and the export credit guarantee scheme for exports beyond September 2009 till March 2010.
The minister also said that it is against creating barriers against imports into the country as India itself has been opposing the protectionist policies that block the flow of global trade.
The exporting units in 17 sectors witnessed job loss of 134,593 people during the period, another survey conducted by the department on retrenchment said.
"This does not reflect the total job losses, which would be higher," minister of state of commerce & industry Jyotiraditya M Scindia informed the House.
Mr Sharma said the pace of export fall had begun to recede and expressed optimism that the measures announced by the Finance Minister in the budget would help the export sector.
The finance minister in the budget decided to continue with the interest rate subvention (discount) scheme and the export credit guarantee scheme for exports beyond September 2009 till March 2010.
The minister also said that it is against creating barriers against imports into the country as India itself has been opposing the protectionist policies that block the flow of global trade.
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