Exports shrink for 13th consecutive month

Exports shrink for 13th consecutive month

Tags:Exports shrink, 13th consecutive month

New Delhi: The country's exports took a beating for the 13th straight month, as it fell 11.4 per cent in October on little demand for Indian made leather, handicrafts and other products from recession-hit West.

Marked decline was recorded in export of items, including mica and coal during October, though improvement was witnessed in case of iron ore and oil meals.

Overseas shipments in the month was USD 12.5 billion against USD 14.1 billion in the same period last year.

The decline in exports during first seven months of the current fiscal (April-October 2009-10) worked out to be 26.5 per cent, making it difficult for the government to withdraw stimulus given to the exporters to combat the impact of the global financial meltdown.

Finance Minister Pranab Mukherjee, too, in his address to India Inc this week, said it would not be possible to withdraw stimulus till there was recovery in the developed world which accounts for bulk of India's exports.

Pitching for continuation of stimulus for exporters, Commerce Secretary Rahul Khullar said the exports on year-on-year basis are not likely to turn positive during the course of 2009-10.

However, on month-on-month basis exports are expected to turn positive in January, he said, adding, the exports in January were likely to be more than in December in value terms.

Imports of sensitive items up by 30.4 pc in Apr-Aug

New Delhi: Imports of sensitive items, including edible oil, rose by 30.4 per cent during April-August this year, propelled by a 424.8 per cent jump in the shipments of milk and milk products.

The overall import of the items went up to Rs 22,429 crore during the period from Rs 17,206 crore in the same period last year, according to official data released here today.

Edible oil, milk and milk products fall in the sensitive items category and their imports are monitored by the government to ensure that they are not causing any adverse impact on domestic companies, particularly small and medium firms.

Imports of edible oil rose 87.7 per cent during the period. The imports of edible oil, milk and milk products were at Rs 8,994.36 crore and Rs 96.30 crore in April-August, respectively, against Rs 4,791.49 crore and Rs 18.35 crore in the same period of the previous year.

The increase in edible oil import is mainly due to a substantial increase in import of crude palm oil and its fractions.

shalini,pgdm(3rd sem)