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Revised export targets may still be a distant dream
03
Apr '09
Overall exports from India plunged for the fifth consecutive month in February by 21.7 percent y-o-y in the middle of the worst global slowdown since the great depression of the 1930's, with companies trying all the tricks to survive through this depressing period.

Exports had fallen by 12.1, 9.9, 1.1 and 15.9 per cent in October, November, December and January, the four months preceding February 2009. The main sectors to be affected are the most labour intensive like textiles, garments and diamond polishing.

The government on its part has reduced the targets set for the fiscal 2008-09 (April-March) by scaling down the target from US $200 billion to $175 billion, but the export figures for the first eleven months of the fiscal have touched only $156.5 billion, so even this target seems highly unlikely.

Fibre2fashion News Desk - India

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