US demand for low-price Indian merchandise may rise from May
Press Trust Of India / New Delhi Mar 24, 2009, 00:52 IST
Come May, the demand for Indian merchandise priced between $10 and $60 may revive in the US stores, as American consumers start feeling the impact of the stimulus packages, the Federation of Indian Export Organisations (FIEO)said.
“We expect that from May onwards, there will be some improvement in orders ...buying power is slowly picking up in America again because of the stimulus package... We feel demand for an article which sells between $10 and $60 will again pick up,” said FIEO President A Sakthivel.
Pick-up in demand for merchandise in the US would mostly help sectors like garments, handicrafts and leather products, Sakthivel said.
The FIEO chief expects the next fiscal beginning April to be better than 2008-09, which may end up with an export growth of 10 per cent, from about 25 per cent in the previous year. The US accounted for 13 per cent of India’s exports in 2007-08.
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