India’s exports likely to turn positive by December

India’s exports likely to turn positive by December
Published: 22 October 2009

India’s exports contracting from October last year due to global economic crisis are likely to enter into positive zone by December, said the state minister for Commerce and Industry, Jyotiraditya Scindia in Delhi on Wednesday, report media.

Talking to reporters on the sidelines of the 48th annual meeting of the Cement Manufacturers’ Association, he said that the exports were increasing every month. August exports were US$14.2bn compared to the April exports of US$10.7bn. The decline was also slowed down to 19.4 per cent in August as against 33.2 per cent in April. He said that the trade started rising in global markets ahead of Christmas.

The government had announced several measures to exporters with subsidy of two per cent on bank finance. The September exports data are to be released next month.