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Near term outlook for exports improves - Q3 FICCI survey

14
Mar '07
The FICCI Export Survey for the third quarter (October-December 2006) of the current fiscal shows that there has been some improvement in the near term outlook for exports amongst the participating companies.

The current survey reveals that while the outlook has improved, the Indian exporting community has been perturbed by two factors, namely increasing raw material prices and interest rates and the appreciation of the Rupee in nominal terms. This double whammy has emerged as an area where exporters are demanding immediate attention of the government.

The results of the previous survey (Q2) had shown that India's exports are likely to move into a phase of consolidation with little probability of surprises on the upside. This sentiment captured in the FICCI survey found a reflection in the export performance of the country during the months of December 2006 and January 2007.

Round three of the FICCI Survey conducted during February 2007 reveals a positive outlook in merchandise exports for the next six months. However, further moderation in exports is likely to be seen in the next six months.

The Survey saw participation from 263 companies with a wide geographical and sectoral spread. The turnover of the companies that participated in the survey ranged from Rs 1 crore to Rs 10,000 crore and the companies represent sectors like automobiles, consumer durables, food processing, FMCG, textiles, handicrafts, metal and metal products, heavy engineering, pharmaceuticals and chemicals.


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