Fall in exports has slowed, says Sharma

The government today said though the exports affected by the global slowdown are hovering in the negative zone, the slide has slowed.

India's exports are declining since October 2008, but the steep fall has been somewhat arrested, Commerce and Industry minister Anand Sharma told reporters here.

The contraction in overseas sales has fallen below 20 per cent in August, while it was over 33 per cent in March and April.

Sharma said that the global scenario was dismal and WTO has projected that the world trade would shrink by 9 per cent to 10 per cent.

Since the major economies were still in recession, exports would suffer, the minister said.