Exports drop 2% in Q1,says Sharma

Subdued demand for merchandise in Western markets led to a 2 per cent decline in India’s exports in the first quarter of the current fiscal,commerce and industry minister Anand Sharma said

Written by FE | New Delhi | Published: July 13, 2012 1:18 am

Subdued demand for merchandise in Western markets led to a 2 per cent decline in India’s exports in the first quarter of the current fiscal,commerce and industry minister Anand Sharma said on Thursday.

“Overall,my information is that for the quarter of April-June,the decline will definitely be less than 2 per cent. This is manageable because the benefits of the steps we have taken will kick in. It will take time,” he said a day before commerce secretary is expected to release the export figures for June and the first quarter.

The export shipments in April-May of 2012-13 stood at $50.13 billion. The government is looking at exports of $360 billion in the current fiscal against $303 billion in 2011-12.

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