Negative Growth of Exports

Exports declined by 6.9% during first half of 2012-13 as compared same period of last year. The details of commodity-wise export including quantity and value for the current year is available in the DGCI&S publication in CD form namely ‘Monthly Statistics of Foreign Trade of India’ Vol. I (Exports). Such CD’s are regularly sent to Parliament Library by DGCI&S, Kolkata.

Decline in exports is witnessed in Engineering Goods, Petroleum Products, Gems & Jewellery, RMG of all Textiles, Electronic Goods, Cotton Yarn/Fabs/made-ups Handloom Products, etc during above said period.

The global economic crisis, the sovereign debt crisis in Europe and the economic slowdown in developed economies has adversely impacted demand for our exports.

In the international market Indian exports compete with exports of many countries including that of China.

To increase our exports a strategy paper to double our exports by 2013-14 was released in May 2011 as part of plan of action. In the wake of continuous economic slowdown which has impacted the trade, a number of measures / incentives as part of the Annual Supplement to Foreign Trade Policy were announced on 5th June 2012. DGFT has also undertaken a midterm review with detailed discussions with all the Export Promotion Councils and other stake holders. To further give a boost to India’s Export, 102 new products have been added to the Focus Product Scheme. Five new markets and one special market has been added under Focus Product Scheme. And similarly some additions have been made to MLFPS / VKGUY. Incremental Export Incentivisation Scheme has been introduced w.e.f 1.1.2013 whereby incremental exports made during the period January-March 2013 over the period January-March 2012 to specified countries would be eligible for the benefits. 2 % Inerest Subvention Scheme has been widened to include 134 sub-sectors of Engineering Sector w.e.f 1st January, 2013. The validity of the scheme has been extended till March 31, 2014.

This information was given by the Minister of State of Commerce & Industry, Dr. D. Purandeswari in a written reply in Rajya Sabha today.

DS/RK

(Release ID :93092)