Union Commerce and Industry Minister Anand Sharma on Wednesday said exports would grow by 15 per cent in the next financial year. He also pointed out that the declining trend in exports, being registered for the past one year due to global recession, had been arrested, and soon it would start growing.
“The government expects exports position to improve in the coming months. The progressive reduction in the decline in exports indicates that while the impact of global recession is still continuing on our exports, the steps taken by the government and Reserve Bank of India are contributing to arrest the steep decline in exports,” Mr. Sharma said in Rajya Sabha during Question Hour.
The Minister said the government had taken enough steps to help the export sector which had started to show results.
India’s merchandise exports, which had declined by 38.9 per cent in May 2009, have started showing signs of improvements and the downturn has been arrested to a single digit level (6.6 per cent) in October this year, he pointed out, and added that sectors like handicraft, handloom and gems and jewellery suffered badly due to recession and witnessed job cuts.