The engineering exports in the first month of 2009-10 plunged to $2.78 billion from $3.8 billion in the same month a year ago, according to the Engineering Export Promotion Council. However, the decline in April was not as sharp as in March, when the exports contracted by 34 per cent over the same period last year.
During April-September 2010-11, exports from the tax free enclaves had clocked Rs 1.39 lakh crore (Rs 1.39 trillion).
Engineering Export Promotion Council has warned the government that growth in engineering exports will turn negative if the average rupee rate to a dollar falls below 40 during the year.
The Engineering and Export Promotion Council will send a 15-member delegation to China in February-March, 2005, to explore export potential, its chairman Rakesh Shah said.
Silk exporters are already hit by rupee appreciation and competition from Chinese firms, Mittal said, adding that of the total 50 lakh workers in the sector, over 100,000 have lost jobs. The industry is apprehensive that the situation could worsen this year due to deepening of the US economic slowdown, which is spreading to other economies as well.
Imports of rough diamonds at $7,249.39 (Rs 32,839.73 crore) million in April 08 - February 09 have shown a decline of dollar term 20.12 per cent (11.31 per cent in rupee term) compared with $9,075.36 million (Rs 37,027.47 crore) in the same period last year. The marginal growth in exports of cut and polished diamonds in the year 2008-09 from the corresponding period of last year is due to increase in the trading activities of cut and polished diamonds.
Having shown some initial signs of recovery in November, India's apparel exports declined by over 11 per cent to $862 million in December 2009 on account of poor demand from the United States and the Euro zone.
Exports stood at $5.27 million (around Rs 24 crore) in October last fiscal.
The exports stood at $4.21 billion in June in 2008. Engineering exporters are not hopeful of recovery in demand in the international market in the coming months.
The west Asian region remained the top destination for India's consumer electronics goods last year with exports doubling to $175 million in 2005-06, from $90 million of 2004-05.
Indian pharma exports are likely to register 17-20 per cent growth this fiscal, touching the USD 12 billion mark, a top official of the Pharmaceuticals Export Promotion Council (Pharmexcil) said.
After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards. This comes even as other key destinations such as Europe may take longer to revive in FY24. Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
Tata Consultancy Services, with exports worth $806.1 million is the largest software exporter during 2001-02, while Celetron India led the race in exports of computer hardware.\n\n\n\n
Exporters are now looking at new markets.
The Gem and Jewellery Export Promotion Council of India has announced the performance figures of the sector for January-December 2004.
Exports from the world's largest supplier of gems and jewellery were valued at $1.87 billion in May 2009.
Close on the heels of US retailer J C Penney's announcement to enhance outsourcing from India, domestic apparel exporters have firmed up plans to hold a mega garment show in Dallas and New York.
Those in the handicraft business say China has 'invaded' the Indian bazaars replacing sale of traditional hand-made products with machine-made items manufactured on a big volume. Besides, the Chinese manufacturers send these machine-made handicrafts to the global market giving tough competition to Indian suppliers.
During April-December 2009-10, exports from special economic zones stood at Rs 1,51,785 crore (Rs 1,517.85 billion).
India's gems and jewellery export grew by 16 per cent to $28.41 billion in 2009-10 due to revival in demand from major markets like the US and Europe.
Continuing their upbeat performance, readymade garments exports registered a rise of 33.04 per cent in value terms at Rs 2,320.95 crore (Rs 23.2 billion) in February this year as against Rs 1,781.71 crore (Rs 17.81 billion) in Febraury last year.
Demand is weak in traditional markets like US and EU.
Enthused by substantial growth in cotton apparel exports since dismantling of quota system in January 2005, India expects their exports to the United States to become nearly three times from the present $2.30 billion to $6 billion this fiscal.
Software exports are expected to register a growth of 33 per cent in terms of dollar and 23 per cent in terms of rupee in the current financial year, according to an estimate by the Electronics and Computer Software Export Promotion Council (ESC). In absolute terms, exports during FY08 will workout to $45 billion (Rs 180,000 crore).
After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting. It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting.
Buoyed by the momentum created in the last fiscal, India's export target for 2005-06 has been revised upwards to $92 billion from $88 billion, Union Minister of State for Commerce E V K S Elangovan said on Monday.
India's gems and jewellery exports grew by 16 per cent at $28 billion last fiscal due to revival in demand in major markets as well as recycling of used diamonds, a top industry official said.
Recession-hit retailers in the US and Europe are increasing their purchases from Bangladesh as it is able to supply garments at a relatively less price due to low labour cost and better economies of scale, experts said. Data collected by the Apparel Export Promotion Council, the body for the promotion and facilitation of garment-manufacturing and their exports, show Bangladesh overtook India after August 2008.
The government was close to imposing presumptive tax and the goods and services tax on the gems and jewellery sector
The government has said it will examine proposals for the simplification of procedures for export oriented units and special economic zones in a time-bound manner.
India's carpet export rose by 22 per cent to $3.60 million (about 17 crore) in June year-on-year on account of good orders from the US and Europe.
The labour-intensive sector contributes about 15 per cent of the country's overall exports.
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