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India hopes exports would record a positive growth in last quarter of current fiscal | Commerce and Industry Minister Anand Sharma has expressed hope that India's exports would rebound during January-March 2010. Talking to reporters on the sidelines of a
conference here on Wednesday, Sharma said: "Well as I had said that in this quarter
we will be able to arrest the decline and figures have already reflected that.
In May if it was a negative growth of over 39 percent, it has come down to single
digit. We hope this trend will continue, as I have said on few occasions, in the
last quarter of the current fiscal. I am optimistic that Indian exports will come
to the positive territory." Indian exports have fallen for more than a year as
the global financial crisis drained demand. The sharp fall has been arrested and
the government expects year-on-year monthly figures to return to positive growth
by the end of third quarter or in the fourth quarter of the current fiscal year
ending March 2010. Earlier this month Sharma said that India's exports have stabilised
and would hopefully rise in November after 13 straight months of decline. India's
October exports fell an annual 6.6 percent to 13.19 billion dollars, while during
the first seven months of the 2009/10 fiscal year ending March, they were down
an annual 26 percent as the economic downturn crimped overseas demand. |
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