As uncertainty looms large in Afghanistan, Indian pharma exporters are apprehensive to send goods to the war-torn country and the target of exporting $126 million worth of pharmaceutical goods to the Taliban-ruling nation now depends on the future outcome. Udaya Bhaskar, director general of Pharmaceuticals Export Promotion Council of India (Pharmexcil) body under the Department of Commerce on Tuesday said as the situation is grim over there and India pharma exporters have cordial relations with Afghanistan. "The projected target for 2021-22 is $126.22 million.
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.
'We have to be prepared for the larger disruption that is likely to take place.'
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 government on Tuesday notified the Rs 22,919 crore scheme to promote domestic manufacturing of electronics components, display and camera modules, non-surface mount devices, multi-layer printed circuit boards and lithium-ion cells for digital applications, among others. The scheme is likely to be operationalised in the next 2-3 weeks.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
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.
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
The Gem and Jewellery Export Promotion Council of India has announced the performance figures of the sector for January-December 2004.
Exporters are now looking at new markets.
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.
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.
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).
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
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.
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.
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