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Exports fall short of target in July

31
Aug '09
The export targets set for the current year have received a jolt, from the beginning of the fiscal year, with shipments falling by above 10 percent from the target set for the month of July 2009.

Overall exports touched US $1.48 billion in July against a target of $1.64 billion set for the month, reflecting a shortfall of $157 million or down 10.6 percent.

In the trade policy for 2009-10, the government had set a target of $18.86 billion in exports from the country for the current fiscal, a growth of six percent, over that achieved in the previous fiscal year.

The export sector has taken a severe beating since the global economic crisis unfolded, last September, but experts from the sector put equal blame on the domestic problems, which have put brakes on exports.

The biggest factor has been the law and situation, say experts. Next is the shortage of electricity and gas which has led to reduced productivity and also closure of many units who are not able to keep up with electricity cuts.

Fibre2fashion News Desk - India


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