ID :
72428
Mon, 07/27/2009 - 19:00
Auther :
Shortlink :
https://www.oananews.org//node/72428
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Sharp fall in Indian exports arrested, says Minister
New Delhi, July 27 (PTI) The Indian government Monday
said in the Lok Sabha (Lower House of Indian Parliament) that
though there were no signs of recovery in the global economic
scenario, the sharp fall in Indian exports seems to have been
arrested.
This is because of many steps taken by the government,
including two stimulus packages and benefits provided in the
budget, Indian Commerce Minister Anand Sharma said during
Question Hour.
"There are no indications that base statistics will
improve until October 2010... But, we do hope that steps taken
by the government will have stabilising impact on the domestic
exports sector," he said.
Gems and jewellery, textiles, leather, marine products
and handicrafts are some of the sectors whose exports were
impacted due to global slowdown, he said adding the downfall
started since October 2008.
In March/April exports were down by 33 per cent but in
the last two months the decline is less than 30 per cent.
"I can say that due to various steps taken by the
government, the sharp fall has been arrested," Sharma said,
and pointed out that there were no signs of recovery in the
global economic scenario.
"Government and Reserve Bank of India (RBI) are closely
monitoring the economic developments in the country and global
situation, and have been taking appropriate steps to arrest
the decline in exports. The government announced a number of
measures in the stimulus packages, as well as in the budget
2009-10," he said.
Some of the measures included easing of credit terms,
increase in forex liquidity and reduction in excise duty
across the board by four per cent for all products except
petroleum products, Sharma said.
He also said there was an improvement in the domestic
market especially in the core sector. Growth in the steel,
cement, automobiles and other capital goods industry has been
in double digit during June.
This indicates that the steps in the stimulus packages
and the Union budget have a stabilising impact on Indian
exports. PTI
said in the Lok Sabha (Lower House of Indian Parliament) that
though there were no signs of recovery in the global economic
scenario, the sharp fall in Indian exports seems to have been
arrested.
This is because of many steps taken by the government,
including two stimulus packages and benefits provided in the
budget, Indian Commerce Minister Anand Sharma said during
Question Hour.
"There are no indications that base statistics will
improve until October 2010... But, we do hope that steps taken
by the government will have stabilising impact on the domestic
exports sector," he said.
Gems and jewellery, textiles, leather, marine products
and handicrafts are some of the sectors whose exports were
impacted due to global slowdown, he said adding the downfall
started since October 2008.
In March/April exports were down by 33 per cent but in
the last two months the decline is less than 30 per cent.
"I can say that due to various steps taken by the
government, the sharp fall has been arrested," Sharma said,
and pointed out that there were no signs of recovery in the
global economic scenario.
"Government and Reserve Bank of India (RBI) are closely
monitoring the economic developments in the country and global
situation, and have been taking appropriate steps to arrest
the decline in exports. The government announced a number of
measures in the stimulus packages, as well as in the budget
2009-10," he said.
Some of the measures included easing of credit terms,
increase in forex liquidity and reduction in excise duty
across the board by four per cent for all products except
petroleum products, Sharma said.
He also said there was an improvement in the domestic
market especially in the core sector. Growth in the steel,
cement, automobiles and other capital goods industry has been
in double digit during June.
This indicates that the steps in the stimulus packages
and the Union budget have a stabilising impact on Indian
exports. PTI
