Good news in New Year: Exports turn positive after 13 months

New Delhi, Jan 1 (PTI) The New Year began on a cheerful
note for India's exporting sector, as consignments turned
positive after 13 months, growing by 18.2 per cent in
November.
Exports in November 2009 increased to USD 13.19 billion
from USD 11.16 billion a year ago marking a trend reversal of
decline that had set in since October 2008 due to widespread
recession in key global markets.
Imports remained in the negative zone declining by 2.6
per cent to USD 22.88 billion, leading to a lower trade gap of
USD 9.69 billion during the month against USD 12.32 billion in
November 2008.
However, the import contraction in November was much
lower than 15 per cent in October, signifying pick up in the
economic activity.
For the April-November period, exports dropped by 22.3
per cent to USD 104.24 billion, much lower than 26 per cent
gap up to October this fiscal.
While exports have turned positive partly due to low base
of last year, experts cautioned against complacency.
"Exporters need to keep their competitiveness both in
terms of quality and prices and focus on market and product
diversification," R M Joshi of the prestigious Indian
Institute of Foreign Trade said.
ICRIER Director Rajiv Kumar said government stimulus
should continue and exporters need to be cautious about the
exchange rate volatility. MORE PTI