India needs to take a fresh look at its export strategy in view of concerns whether a recovery since November 2009 can be sustained, Finance Minister Pranab Mukherjee said on Saturday.
"There are some concerns regarding the extent to which export recovery seen in November and December can be sustained in the coming months given the uncertain recovery in the developed economies."
"Here again we need to relook at our strategy and diversify our export markets to recover some of the growth momentum," Mukherjee said at the FICCI Annual General Meeting in New Delhi.
The Finance Minister, who presented the Budget yesterday, said the fall in exports seen during the slowdown in the global economy had implications for employment growth in the country.
Though exports recovered in November 2009, the consignments for the April-December 2009-10 period dropped by 20.3 per cent to USD 117.58 billion over the year-ago period.