1.3 mn may lose jobs in 2009-10: UNCTAD

About 1.3 mn are likely to lose jobs in the export units in current fiscal,an UNCTAD study said.

About 1.3 million people are likely to lose jobs in the export units in the current financial year due to recession in the developed countries,an UNCTAD study said.

However,the net job loss in the export sector is estimated to be 7.48 lakh since some sectors like plantation may witness a positive growth.

The study said,during 2009-10,India’s total exports are likely to dip by 2.2 per cent.

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“Petroleum products will experience the maximum decline in export growth followed by gems and jewellery,ores and minerals and textiles and its products,” it said.

However,the situation will improve in the next fiscal,when new jobs would be created in the sector,which employs about 50 million people.

“In 2010-11,about 5.22 million jobs could be created. “No job losses are expected as all sectors are expected to experience positive export growth,” it said.

In 2008-09,about 1.16 million people lost their jobs due to negative export growth in sectors such as textiles.

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With external shipments contracting for the sixth month in a row,the country’s exports aggregated USD 168.70 billion in 2008-09,managing a paltry growth rate of 3.4 per cent.

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