Exports fall 4.7 p.c. in FY’10

May 06, 2010 03:14 pm | Updated 03:14 pm IST - New Delhi

India’s exports in 2009-10 fell 4.7 per cent to $176.5 billion, as a late revival in demand failed to fill the vacuum created in the first half.

The country’s exports fell for 13 months in a row, starting October 2008, due to the global slump in demand.

Exports turned positive for the first since the slowdown in November 2009.

Value of India’s outward shipment in 2008-09 was $185.3 billion.

“Some sectors continue to hurt badly like engineering, which declined by 21 per cent, electronic goods, handicrafts, and carpets,” Commerce and Industry Minister Anand Sharma told reporters here.

As regards performance in March, exports grew 54 per cent to $19.9 billion. March was the fifth straight month of growth.

Mr. Sharma said the export target for 2010-11 will be $200 billion. “We have a modest target of $200 billion of merchandise exports in 2010-11. We are confident of achieving the target and hopefully exceed it.”

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.