NEW DELHI: Though India’s exports have witnessed a negative growth in the last nine months (Dec 2014 to August 2015) in a row, there is a ray of hope for exporters to rebound in the coming months, according to a recent analysis conducted by PHD Chamber of Commerce and Industry.
India’s exports decelerated around 16 per cent during the period April-August 2015. All the top 10 export destinations including Saudi Arabia, Singapore, China, Germany, Hong Kong, UAE, Sri Lanka, UK and USA, have posted decline.
Of the top 100 destinations of India’s exports, 68 countries have posted negative growth ranging in between 10 per cent and 50 per cent.
“Notwithstanding the deceleration in overall exports momentum, there are economies where India has posted good growth trajectory. Of the top 100 export destinations, 32 economies have posted a positive growth ranging from two per cent to over 50 per cent including Australia, Canada, Norway, Bahrain, Iraq, Czech Republic, Chile, Ghana and Afghanistan, among others,” the Chambers said.
The country’s several labour intensive products have shown positive growth including handicrafts (18.6 per cent), jute (18.17 pc), ceramic products (9.84pc), carpet (6.3pc), tea (5.3pc).
However, several export items including iron ore (-76pc), petroleum products (-49.5pc), oil meals (-35.3pc), oil seeds (-23pc), marine products (-17.4pc), rice (-16.5pc), meat, dairy and poultry products (-16pc) have registered a negative growth during April-August 2015. However, the Government must focus on encouraging exporters to venture into new countries, launching information portals for providing information about export opportunities in various markets, the Chambers suggested.
