September sees lowest fall in exports this fiscal

LD EXPORTS

New Delhi, Oct 29 (PTI) India's exports dropped by 13.8
per cent in September, but the decline was the lowest this
fiscal, giving hope of a rebound of a year-old negative trend
from the third-fourth quarter of the current fiscal.

Exports during the month were USD 13.6 billion compared
to USD 15.8 billion a year ago. "It is difficult to predict a
precise timeline for exports to transit to a positive phase.
But it is expected that it (trend reversal) will be towards
the end of 3rd or beginning of the 4th quarter of the current
year," Commerce Secretary Rahul Khular told reporters here.
Under the impact of the global slump in demand, exports
started contracting since October 2008, with May 2009 seeing
the sharpest decline of 39.2 per cent.
However, since June the declining trend got arrested
showing "there is a huge revival everywhere" with the return
of the global confidence, though at a slower pace.
While the shipments contracted by 28.5 per cent during
April-September 2009-10, the Commerce Ministry is hopeful that
the current fiscal may end with a smaller decline of 3-6 per
cent as sectors like gems and jewellery, petroleum products,
pharmaceuticals, iron ore, marine products, and man-made yarns
showed recovery.
Exporters shared the optimism. "We are in agreement with
the government. Our assessment that the situation would
improve around January 2010 is reflected from this data," A
Sakthivel, President of Federation of Indian Export
Organisatons (FIEO) said. PTI RR
AM


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