The December exports reached $14.6 billion, a 9.6 per cent improvement over the November totals, trade minister Anand Sharma said today. The bump showed continued strength in the national economy. However, struggles in the American and European markets will continue to test Indian exporters in the months to come. With food inflation on the rise and interest rates following suit in the next fiscal, exporters may struggle to maintain the pattern of growth.
Based on initial estimates, exports for the fiscal year stand between $118 and $119 billion, with year-end estimates coming in at $165 billion, according to Ajay Sahai, director general for the Federation of Indian Export Organisations. “$14.6 billion is really encouraging. I think certain sectors are doing exceedingly well, despite inflation,” Sahai told The Indian Express. “I think demand is still lukewarm in developed economies, but demand in ASEAN countries is showing improvement,” he added.
Source : indianexpress.com