Indian Exports decline by 28.4 perc

(posted under - Indian exports news & updates) - Yet another sign of prevailing economic crises is that indian exports fell by a whopping 28.4 percent to just $13.62 billion. Imports also fell sharply, with both oil and non-oil imports registering a decline during the month compared with the year-ago period, according to government data released on Tuesday.

A sharp 37% decline in July imports to $19.62 billion resulted in a steep fall in the trade deficit to $6 billion during the month, compared with $12 billion in July 2008. The commerce department, however, is not taking it as a positive development.

FIEO expects the export sops extended in the FTP announced last week to start showing results by the beginning of next year.

India's Apr-Feb 2008-09 exports at $156 bn

India's exports in the April to February period reached $156 billion and are expected to touch $170-175 billion in fiscal 2009/10, Commerce Secretary G.K. Pillai said on Friday.

"We will be lucky if we touch the $170 billion target (this fiscal year)," Pillai said referring to the slowdown in exports due to the global economic crisis.

Govt released the trade data for february yesterday.

posted under - exports of india, indian exports, export data from india, Indian economy updates, economy of india, effect of recession, indian exports