India's exports, declining since October 2008 due to the global economic crisis, is likely to revive later this year, but a 'solid climb' is not expected until 2010, international rating agency Moody's said.
The imports may recover faster, thnaks to a strong demand, it said.
"As global prospects are now improving, especially with the US economic contraction easing, India's exports may begin to recover later in the year," Moody's said in a statement.
However, it said, a 'solid climb in exports is not expected until well into 2010' when major economies would be back on a firm footing.
India's exports declined by 27.7 per cent in June over the same month last year, contracting for the ninth month in a row due to a demand slowdown in major global markets.
Imports dipped for the sixth straight month by 29.3 per cent to $18.97 billion in June over the month a year ago. Moody's said the imports are 'expected to recover at a faster pace than exports, thanks to relatively solid demand in India.'
Infrastructure bottlenecks have haunted India's economic development in recent years, it said, adding that the Indian authorities would step up efforts to facilitate infrastructure development.
"Therefore, demand for overseas resources may continue to rise in coming months, adding to India's import bill."
