The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Exports from India declines in June

    Synopsis

    Exports from India have declined for the fourth consecutive month in June, albeit marginally'', as economic uncertainty in the Western markets, particularly Europe, continued to shrink demand.

    NEW DELHI: Exports from India have declined for the fourth consecutive month in June, albeit marginally'', as economic uncertainty in the Western markets, particularly Europe, continued to shrink demand.

    ""There would be a marginal decline. We have been anticipating this. It's because of the contraction that is taking place,"" commerce and industry minister Anand Sharma told reporters on Thursday.

    Trade data for June 2012 will be formally announced by the commerce department on Friday which will also include import figures and the balance of trade situation.

    The decline in exports in the first quarter of the fiscal is likely to be less than 2% which is manageable because of the steps already taken by the government to boost exports, the minister said.

    ""The annual supplement to the foreign trade oplicy was announced only last month. The benefits will start kicking in now (as there is a time lag),"" Sharma said.

    The minister said that the department was taking steps to ensure smooth flow of exports.

    ""We have had a series of meetings with the commerce secretary, the DGFT and senior officials. We have identified the sectors and also the major export destinations from India,"" Sharma said. The commerce secretary and the DGFT will visit five major locations for exports while other senior officials will visit the remaining locations to ensure smooth transactions and remove other impediments.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Also Read

    The Economic Times