New Delhi, July 3
THE country's exports saw an upward movement across the board in all major sectors in 2004-05.
Agriculture and allied products exports increased by over 11 per cent in dollar terms and by over 9 per cent in rupee terms. According to an official communiqué, agriculture and allied products increased to Rs 27,111.41 crore ($6.03 billion) during the financial year 2004-05 from Rs 24,844.48 crore ($5.4 billion) during 2003-04.
Agriculture and allied products showing a substantial increase in exports were rice, pulses, tobacco, spices, nuts and seeds, cashew, gur, gum meal, castor oil and processed food items. Dairy and poultry products showed a record increase of over 65 per cent in the last fiscal year, while export of chemicals and related products registered a growth of over 27 per cent.
Gems and jewellery exports saw a jump of over 29 per cent to reach a level of $13.7 billion in 2004-05 compared to $10 billion in 2003-04.
According to the release, India emerged as a major exporter of petroleum products in 2004-05 at $6.7 billion, up by over 90 per cent from $3.5 billion in 2003-04. Engineering goods exports increased from $10 billion in 2003-04 to $14.5 billion in 2004-05, showing a growth of over 38 per cent.
There has been an across-the-board increase in exports of all engineering items from India including machine tools, machinery and instruments, transport equipment, iron and steel, manufactures of metals and residual engineering items, it said.
The country's exports have been on a high growth path with merchandise exports reaching $79.2 billion in 2004-05 recording a growth of 24.1 per cent in dollar terms, which is the highest since 1974-75.
India's share in world exports increased from 0.66 per cent in 2000 to 0.82 per cent in 2004. The export target set for 2004-05 at 16 per cent was exceeded by 50 per cent.