ID :
125536
Wed, 06/02/2010 - 07:58
Auther :
Shortlink :
https://oananews.org//node/125536
The shortlink copeid
India`s exports rise by over 36 pc in April
New Delhi, June 1 (PTI) India's exports increased by 36.2
per cent to USD 16.88 billion in April, the sixth consecutive
month of growth.
Last April, exports had shrunk nearly 30 per cent to USD
12.4 billion under the impact of the worst recession in 60
years that dried-up demand in key markets such as the US.
However, going forward the European debt crisis may weigh
on outbound shipments, even though India's trade exposure to
Greece is limited, rating agency Crisil Principal Economist D
K Joshi said.
"It all (export performance) depends how the European
crisis unfolds," he said.
President of the Federation of Indian Export
Organisations (FIEO) A Sakthivel said the Greek crisis would
only have a minimal impact on exports .
"Our big buyers are Germany, Italy and France," he said.
European Union generally accounts for about 20 per cent
of India's exports.
Experts, however, said the recovery in exports should be
viewed in the backdrop of the dismal performance last year.
"Right now the growth rate is basically due to low base
effect (poor performance in April last year)...," Joshi said.
As the impact of low base peters off in the coming
months, "We can expect moderation in exports in the second
half of the current fiscal," he said.
Before turning positive in November 2009, the country's
merchandise consignment had contracted for 13 months in a row
since October 2008.
Reflecting a growing domestic demand, imports too
increased in April by 43.3 per cent to USD 27.3 billion from
USD 19.05 billion a year ago.
Trade deficit for April was USD 10.4 billion, against USD
6.7 billion in the year-ago period.
Non-oil imports increased by 34.3 per cent in the opening
month of the current fiscal.
Oil imports increased to USD 8.08 billion, against USD
4.74 billion in April last year.
Indian economy grew by 8.6 per cent in the last quarter
of fiscal 2009-10, despite slow recovery in several developed
countries.
At USD 176.5 billion, exports contributed about 17 per
cent of the country's Gross Domestic Product. PTI
per cent to USD 16.88 billion in April, the sixth consecutive
month of growth.
Last April, exports had shrunk nearly 30 per cent to USD
12.4 billion under the impact of the worst recession in 60
years that dried-up demand in key markets such as the US.
However, going forward the European debt crisis may weigh
on outbound shipments, even though India's trade exposure to
Greece is limited, rating agency Crisil Principal Economist D
K Joshi said.
"It all (export performance) depends how the European
crisis unfolds," he said.
President of the Federation of Indian Export
Organisations (FIEO) A Sakthivel said the Greek crisis would
only have a minimal impact on exports .
"Our big buyers are Germany, Italy and France," he said.
European Union generally accounts for about 20 per cent
of India's exports.
Experts, however, said the recovery in exports should be
viewed in the backdrop of the dismal performance last year.
"Right now the growth rate is basically due to low base
effect (poor performance in April last year)...," Joshi said.
As the impact of low base peters off in the coming
months, "We can expect moderation in exports in the second
half of the current fiscal," he said.
Before turning positive in November 2009, the country's
merchandise consignment had contracted for 13 months in a row
since October 2008.
Reflecting a growing domestic demand, imports too
increased in April by 43.3 per cent to USD 27.3 billion from
USD 19.05 billion a year ago.
Trade deficit for April was USD 10.4 billion, against USD
6.7 billion in the year-ago period.
Non-oil imports increased by 34.3 per cent in the opening
month of the current fiscal.
Oil imports increased to USD 8.08 billion, against USD
4.74 billion in April last year.
Indian economy grew by 8.6 per cent in the last quarter
of fiscal 2009-10, despite slow recovery in several developed
countries.
At USD 176.5 billion, exports contributed about 17 per
cent of the country's Gross Domestic Product. PTI
