New Delhi, Apr 12 ,2016 : India’s exports are estimated to throw up a conservative figure of USD 250-260 billion for the last financial year due to global demand slowdown, a top government official said today.
The merchandise exports had totalled USD 310.5 billion in 2014-15.
But the situation may improve this year on account of gradual “hardening” of commodity and oil prices, the official said, adding that “the measures announced by the government would show a positive impact on exports from this year”.
In 2015, the government has announced enhanced duty drawbacks under the Merchandise Exports from India Scheme (MEIS) and 3 per cent interest subsidy scheme.
Way back in 2008-09, the country’s out-bound shipments were less than USD 270 billion — around USD 210 billion, to be precise — said exporters body Federation of Indian Export Organisations (FIEO).
Falling for the 15th month in a row, exports tumbled 5.66 per cent in February to USD 20.73 billion.
For April-February 2016, cumulative exports declined 16.73 per cent to USD 238.41 billion as against USD 286.3 billion in April-February of 2014-15.
@ Agency report.
