Despite export gloom, some sectors have retained market share: Teaotia

In the current phase of weak global demand, a few sectors like pharmaceuticals, gems-jewellery and textile-garment have either retained their market shares or are growing, said Commerce Secretary Rita Teaotia.

“This trend of marginal rise in exports is likely to help them to realise better prices when the global economy rebounds,” she said at a press conference here on Tuesday.

The Centre is working out plans to strengthen industry to help ride out this period and maintain market share.

“I can assure you that most of the sectors have managed to maintain their market share, even increase their market share” she said. “It is the price realisations which have reduced and hopefully they will improve once commodity prices begin to rise and the global economy strengthens.”

According to Teaotia, the stagnating prices of steel and other metals, along with lower crude oil prices, had led to a slowdown in the global economy.

“The US, the European Union and China witnessed lower than expected growth during the year. But the situation may improve in the next financial year,” she said.

She said the free trade agreements (FTA) India had signed so far has benefited the country, but a FTA with the European Union will take more time.

Earlier, speaking at Federation of Indian Export Organization (FIEO’s) interactive meeting, Teaotia said exports may touch $270 billion by end of this financial year.

She said that the rupee was witnessing a fall against select global currencies but it was not under valued and the RBI, will take the final call. She was positive that India’s exports will gain next fiscal, as global petroleum and commodity prices are likely to gain.

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