Economy

Exports up 0.88% in Apr-Feb

PTI New Delhi | Updated on January 24, 2018 Published on March 18, 2015

CONTAINER_10771f

India’s exports grew marginally by 0.88 per cent to $286.58 billion during the April- February period of the current fiscal, the Government said today.

India’s merchandise exports was $284.07 billion in the same period in the previous year and “there has been a marginal increase of 0.88 per cent in exports during April-February. ... The downward trend is muted,” Minister of State for Commerce and Industry Nirmala Sitharaman said during Question Hour in the Rajya Sabha.

Replying to a supplementary, she said the Government was taking several steps to raise the export kitty further.

India’s imports during April-February also went up by 0.70 per cent to $411.80 billion, Sitharaman said.

The export of the main commodities or sectors that have registered a decline during the April-February period of 2014-15 as compared to the same period last year were petroleum products, gems and jewellery, electronic goods, spices, iron ore, tobacco, and tea, among others.

The Minister said the primary reasons for the decline in exports were muted global demand, stagnation, and the deflation problem in the European Union and a fall in the prices of crude oil.

The fall in global demand was due to the slowing down of world trade, while the fall in global crude oil prices had led to a decline in exports of petro products, which contribute around 19 per cent of India’s total exports.

“EU countries, which account for nearly 16 per cent of India’s exports, are facing problems of stagnation and deflation. The appreciation of the rupee against the euro has also adversely impacted India’s export to EU countries,” she said.

Published on March 18, 2015
null
This article is closed for comments.
Please Email the Editor