India's exports are likely to recover in the first quarter of next year, reported the PTI quoting Commerce Secretary G.K. Pillai. The country's exports were slowing down since October 2008.
India reported 30% growth in exports in the first half of the current year and registered a negative growth by October, when it plunged 12.1%. The exports dipped 9.9% in November and fell 1.1% in December.
The government lowered the export target for this fiscal year to $175 billion from the previously targeted $200 billion and anticipates that it would range around $170 billion this year. Last year, Indian exports were valued at $162 billion.
Source : www.rttnews.com