Exports to grow by 10 pc next fiscal: expert
The country's total exports are expected to grow by 10 per cent during 2010-11 with most of the key sectors showing signs of revival, a top official of Export-Import Bank of India (EXIM) said on Tuesday.india Updated: Sep 15, 2009 23:09 IST
The country's total exports are expected to grow by 10 per cent during 2010-11 with most of the key sectors showing signs of revival, a top official of Export-Import Bank of India (EXIM) said on Tuesday.
The growth in export during this fiscal is likely to be "either flat or marginally negative," T C Venkat Subramanian, CMD Exim Bank, told PTI on the sidelines of a conference in Coimbatore.
Affected by the global slowdown, India's exports in 2008-09 could manage a meagre 3.4 per cent growth over the previous fiscal. India has set an export target of USD 200 billion for the next financial year.
Subramanian said almost most of the the sectors, including automobile, plantation and engineering have been showing signs of revival.
On the textiles exports, he said once the demand from the US and EU, the main markets of Indian products, improves, the sector is expected to achieve a growth of 10 per cent.
Though there was a steep export growth in textiles and clothing in the first half of 2008-09, there had been slowdown in demand from the US and EU, due to the global economic crisis, he added.
During January-June 2009, while import of clothing by the US from China witnessed a growth of 3.8 per cent, import from India was minus 8.6 per cent, he said.