Figure Watch

Diversify exports

According to a survey done by the Confederation of Indian Industry, there has been no perceptible change in Indian exports 8212; neither in terms of destinations, nor in commodities.

While exports to the USA, UAE, France, Belgium, Germany, Saudi Arabia, Spain and Canada have shown a healthy growth during 1998-99, exports to countries like Japan, Russia, China and Singapore have declined during 1998-99. The US, with a high share of 22 per cent in India8217;s total exports, has been the country8217;s major trading partner over the years. The CII believes that the export portfolio of India 8212; both in terms of destination countries and commodities 8212; needs to be diversified so that the overall export performance of the country does not suffer due to localised crises. Exports during the current financial year have picked up after a sluggish 1998-99. In rupee terms, exports have grown by 13.26 per cent in April-May 1999 as compared to the same period last year.