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Negative growth rate of exports narrowing – FICCI
03
Aug '09
Commenting on the latest foreign trade data released, FICCI President Mr Harsh Pati Singhania said “Negative growth in our exports since October 2008 is disturbing though the rate of fall has been coming down since March this year.

As exports contracted by over 31% in Q-1 of this fiscal on top of the modest 3.4% rise in 2008-09, it is imperative that the forthcoming foreign trade policy addresses exporters' difficulties effectively and the momentum in export growth be restored.

Another worrying factor is the decline in non-oil imports for six successive months. The rate of fall in our non-oil imports ranged between 10 and 25 per cent since February and stood at nearly 25% in this quarter. It reflects rather weak demand in the economy which is a source of worry.”

Federation of Indian Chambers of Commerce and Industry

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