With signs of a revival in the global economy, Commerce and Industry Minister Anand Sharma hoped that India's exports will improve in the coming months.
"We do hope that situation will change for the better," Sharma told reporters here today, adding the government had given incentives and done its best to help the exporting sector in the Foreign Trade Policy unveiled about a month ago.
Maintaining a negative trend since October 2008, exports for August contracted by 19.7 per cent, Sharma said. The full data on export for August will be released on October 1.
"Hopefully positive results will come," he said. The country's exports affected by the global downturn since October 2008 remained in the red.
The exports during April-July period dipped by 34.1 per cent to $49.65 billion from $75.28 billion in the same period last year.
The Minister said the government has been monitoring the situation and found that the downturn has been arrested.
"Negative growth is there but improving from where it was there few months ago," he said.
Referring to the protectionist pressure faced by Indian exporters, Sharma hoped the issue of protectionism would be addressed by the G-20 leaders meeting today and tomorrow in Pittsburgh in the US.
On the talks for a global trade opening agreement under the Doha Round, he expressed satisfaction about India's initiative in breaking the logjam as negotiations have resumed in Geneva, the WTO headquarters.
The negotiators will continue deliberations in October and November as well.
Commerce Secretary Rahul Khullar who was present at the Sharma's briefing with the media said that WTO Director General has given a clear call to G-20 leaders stating the road towards the global deal has been mapped and it was for them to walk it.
Source : Business Standard