Fact and Figures
India's exports in October shrank an annual 12.1 % Y-o-Y decline as slowing output at home and troubled economies in key overseas markets resulting decrease in demand. Overseas sales in the month plunged to $12.82 B (Rs. 645161 Cr.) from $14.59 B (Rs. 73424 Cr.) in 2007.
Contributors
The global slowdown
Very tight credit conditions during the period
High borrowing costs
Top Exporting Products
Gems and Jewellery
Cotton and Clothing
Pharmaceutical (API)
Iron Ore and Semi furnished iron
Mica and Machinery
Conclusions
Effect of this slowing down in export is going to hart in small industry based economical sub-sectors Such as, Gujarat and Rajasthan based jewellery industry, Bihar Jharkhand and Rajasthan based Mica miners, Orissa and Karnataka based iron miners.
After Olympic affect already effected the Bellury based iron industry and it is going to be worsen by coming export downturn. Cotton and clothing is going to survive but not for long due to rising cultivation in African countries.
0 comments:
Post a Comment