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.
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.
India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.
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.
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
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.
The Gem and Jewellery Export Promotion Council of India has announced the performance figures of the sector for January-December 2004.
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.
Exports from the world's largest supplier of gems and jewellery were valued at $1.87 billion in May 2009.
Exporters are now looking at new markets.
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.
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.
During April-December 2009-10, exports from special economic zones stood at Rs 1,51,785 crore (Rs 1,517.85 billion).
According to an industry expert, companies such as Trident, Welspun India, Arvind, KPR Mill, Vardhman Textiles, Page Industries, Raymond, and Alok Industries stand to gain, as revenue from the US market accounts for 20-60 per cent of their earnings.
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.
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.
Demand is weak in traditional markets like US and EU.
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.
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).
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.
India's computer software and services exports is estimated to have touched Rs 31,200 crore (Rs 312 billion) in the first nine months (April-December) of the current fiscal, reflecting a 22 per cent increase over the year-ago period
The government on Thursday pegged the export growth target for merchandise goods at 12 per cent, which will translate into $57.8 billion exports in 2003-04 as against $51.7 billion last year.\n\n\n\n
Owing to increased demand by Americans, the Gems and Jewellery Export Promotion Council expects a 35 per cent increase in jewellery exports to the US at $5.88 billion this fiscal.
