HindustanTimes Sat,20 Dec 2014

Exports down again, eighth month in a row

HT Correspondent, Hindustan Times  New Delhi, January 11, 2013
First Published: 22:01 IST(11/1/2013) | Last Updated: 22:03 IST(11/1/2013)

In yet another indication that all is not well with the Indian economy, exports fell by 1.9% in December, the eighth successive month of contraction, as orders from Europe, hit by sovereign debt worries and a wobbly political situation, continue to shrink.


Commerce secretary SR Rao, however, saw a silver lining, and said there is an arrest in the fall of exports as “all the sectors including engineering have slightly improved”.

India’s exports during April to December stood at $214 billion. The $360 billion export target for 2012-13 appears increasingly elusive.

Last month, a worried government had announced a set of measures to help embattled exporters stay afloat, including a one-year extension for a subsidised bank loan scheme.

Under this scheme, specified exporters can avail bank loans at a cheaper rate. The government pays the banks two percentage points of interest directly, to ensure that they do not have bear the additional burden of providing cheaper credit.

more from Business

Land acquisition rules delaying investments: economic review

The stringent land acquisition rules are probably blocking investments and key projects, the Mid-Year Economic Analysis 2014-15 tabled in Parliament indicated on Friday, suggesting changes to the existing law.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved