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India's exports fall 4.7% in FY10

Source: PTI
May 06, 2010 15:17 IST
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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.

The 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 said.

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

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