Mr A Sakthivel president of Federation of Indian Export Organizations said that India's exports may fall to USD 150 billion to USD 155 billion in 2009-10 from USD 168 billion in the previous fiscal and the declining trend could be reversed from January.
He said that "I expect we may achieve USD 150 billion to USD 155 billion this year and the turnaround is expected from January onward.” He said that country's exports contracted for the 11th straight month in August by 19.7% as demand for merchandise goods saw a sharp erosion in the developed countries which mainly feed India's external trade.
Mr Sakthivel said that exporters are receiving business enquiries for Christmas, which, however, need to be converted into orders. Price remains a key factor in winning the orders.
Mr Rahul Khullar Indian commerce secretary said that the shipments in August were valued at USD 14.3 billion down from USD 17.8 billion in the same month last year. For the April to August period, exports dropped by 31.3% to USD 63.9 billion from USD 93.1 billion.
(Sourced from www.steelguru.com)
Monday, September 21, 2009
Slowdown signs - India exports may fall to USD 155 billion - FIEO
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