RTTNews - According to a survey by Federation of Indian Chambers of Commerce and Industry (FICCI), India's exports are likely to grow reasonably by December with European and Asian countries like France, Germany and Hong Kong reviving from the global recession, reports PTI. The chamber said that it expects only an improvement in the plunging exports on a year-on-year basis in the months ahead.
India's exports fell 26% in June due to slowdown in demand from overseas markets. The survey said though orders are not pouring in, some foreign clients have started placing new orders or at least lowered cancellation of orders.
The survey was conducted in different sectors like automotive, gems and jewellery, textiles, handicrafts, leather and marine IT products during June and July 2009 and included 316 exporters. Senior economic advisor to the finance ministry, H.A.C. Prasad, said the exports fell in a row for nine months, but noted early signs of recovery in overseas sales, which could record growth from September onwards.
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