Exports may pick up in Oct: Sharma.

Commerce and Industry minister Anand Sharma on Monday said the contraction of India’s exports in the wake of slipping demand in Europe and the US is a matter of serious concern and that the government may roll out further measures to support exporters.

Sharma, speaking after inaugurating ‘The India Show 2012’, where nearly 135 Indian companies are exhibiting, said he hoped that sluggish demand in North America and Europe had bottomed out and may pick up in the near future in Europe on account of monetary interventions made by governments and the European Commission.

“The latest set of numbers has caused serious concerns. We are expecting a downturn but not to this extent. My sincere hope it that the numbers should improve in October.”

Sharma said bilateral trade between India and the Czech Republic had progressed and in 2011, it had climbed to $1.505 billion as against $1.363 billion in 2010, implying an increase of 10.4 per cent.

Although the balance was tilted in favour of the Czech Republic in 2011, exports in automobiles, electrical machinery, organic chemicals, footwear, textiles, steel and metals have grown steadily.

Source : indianexpress.com