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Exports to turn positive, Says scindia

The Government on Wednesday said that exports are likely to turn positive by the end of this year signalling the end of global downturn overseas.

business Updated: Oct 21, 2009 21:13 IST
HT Correspondent

The Government on Wednesday said that exports are likely to turn positive by the end of this year signalling the end of global downturn overseas.

India’s exports has been on the decline since October last year immediately after the world economy plunged into its worst recession in decades but minister of state for commerce and industry Jyotiraditya Scindia said that the worst is over and exports would be back on the growth track soon.

“A U shaped formation is being seen (and) in my opinion exports are likely to enter the positive territory by December-January,” Scindia said. “Already exports are increasing on a monthly basis and it is just a matter of time before a full recovery happens,” he added.

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