| Date: |
17-12-2011 |
| Subject: |
Higher Input Costs to Hit Exporters |
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NEW DELHI India’s exports will continue to worsen over the coming months as factors affecting overseas shipments such as lacklustre international demand, rising cost of inputs and a weak rupee will continue to plague the sector, according to a survey released on Friday.
“A majority (64 per cent) of the exporters at the industry and firm level feel that the current and future export conditions will continue to take a toll on their order book position,” according to Federation of Indian Chambers of Commerce and Industry (Ficci) latest export survey.
Only 33 per cent were optimistic about their future prospects, it added.
India’s exports rose by 33.2 per cent to $192.7 billion in the first eight months of 2011-12 while imports during the same period increased to $309.5 billion, resulting in a trade deficit of $116.8 billion.
About 37 per cent of respondents also felt that there would be a decline in future export prices as compared to the previous year, while 22 per cent predicted a decrease in the volume of exports in the next six months.
The turnover of the companies that participated in the survey ranged from less than Rs40 million to Rs85.3 billion per annum. Most of the responses came from the engineering, textile and apparel industries.
Source : omantribune.com
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