Steep export decline arrested;outlook positive

EXPORTS

New Delhi, Nov 27 (PTI) India's exports, which saw the
steepest fall of 39.2 per cent in May at the height of the
global financial crisis, stands arrested at 6.6 per cent in
October, and the government said it would provide more support
to select segments in December.

"We have succeeded through policy interventions and
incentives to arrest the steep decline. The government, which
is carefully monitoring the developments will intervene, if
required..." Commerce and Industry Minister Anand Sharma told
reporters before leaving for Geneva on Friday for the WTO
Ministerial Meeting.
After dropping by 39.2 per cent in May this fiscal,
exports fell at a much slower pace for the last five months,
suggesting recovery in demand in major markets.
"Hopefully the worst is behind us," Sharma said, adding
that his ministry will be completing the sectoral analysis in
the next few weeks and the segments, which still require more
help would be given.
However, he did not elaborate whether it would be another
'fiscal stimulus' for the chosen segments.
Exports of gems and jewellery, petroleum products, drugs
and pharmaceuticals, chemicals, iron ores, cotton yarn and
fabrics,leather and marine products have shown positive
growth. However, engineering and electronics exports remain
areas of concern. PTI CS
SKT


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