New Delhi (PTI) Concerned over a sharp fall in the country's exports, Commerce and Industry Minister Anand Sharma on Monday said he would be discussing with Finance Minister Pranab Mukherjee the measures which can be taken in the Budget to help the exporters who are in distress.
"I will be discussing soon with the Finance Minister the measures which can be put in the Budget which will help the Indian exports, particularly in the traditional sectors like handloom, textiles and leather," Mr. Sharma told PTI in an interview.
India's exports plunged by over 33 per cent to USD 10.74 billion in April, the sharpest decline in 14 years.
Mr. Sharma expressed the hope that the country would be able to return to the high growth trajectory.
"We will be able to sustain the volume and the value of Indian exports at least at the same level (as last year) despite the global shrinkage," he said, adding that there is "no need to panic".
India achieved USD 168.70 billion in 2008-09 showing a meager expansion of 3.4 per cent over the previous fiscal. In fact, the year closed on a positive note thanks to a good showing of about 30 per cent in the first six months of FY'09.
However, the country has seen export contraction for the last seven months in a row as demand for merchandise shrunk in the developed markets of the US and Europe.
Source : The Hindu