| Date: |
09-08-2011 |
| Subject: |
India's Exports Growth Seen Slowing From Aug-Sept-Trade Secretary |
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India's exports growth is expected to slow down from August-September on lingering uncertainties in the United States and the euro zone, Trade Secretary Rahul Khullar said on Monday.
"You should start seeing a clear slowdown from August-September," Khullar said.
Exporters have become jittery over the fate of the country's exports in the wake of Standard and Poor's rating downgrade of the United States, India's biggest trade partner in goods and services combined.
Khullar said India "would be lucky" to achieve 20 percent annual exports growth in 2011/12.
Recovering from the global slowdown, India's goods exports notched record growth in the fiscal year ending March 2011, but policymakers have cautioned that economic uncertainty in the euro zone and the United States could crimp demand.
India's exports in June rose an annual 46.5 percent to $29.2 billion, while imports for the month rose 42.5 percent to $36.9 billion.
Source : reuters.com
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