NEW DELHI: India’s exports are better placed in terms of product diversification as top ten export products account for 58 per cent of total shipments, says a study. The study by an industry body analysed concentration of top 10 export products for major economies, including Hong Kong (89 per cent), Republic of Korea (86 per cent), Japan (77 per cent), the UK (71 per cent), Germany (70 per cent), the USA (68 per cent), China (68 per cent), Netherlands (63 per cent) and France (60 per cent).
Higher the percentage of the country, the more it is concentrated to exports of few products and lesser the percentage of the country, the more diversified it is in terms of export diversification of its products.
India has consistently diversified its export products as concentration of top ten export products was 60 per cent in 2010 and 58 per cent in 2015, noted the analysis conducted by PHD Chamber of Commerce. However, notwithstanding the diversification of export products, India’s export growth trajectory has showed lacklustre performance due to slowdown in demand in the destination countries.
“Although things are improving in logistics and export infrastructure front, the cost of credit to exporters is still high as compared to its competitors in the international market,” PHD Chamber of Commerce and Industry President Mahesh Gupta said.
