Board Of Trade To Take Up Exports Slowdown

The note indicates the ministry is confident of achieving the export target of $38 billion for the year and is not planning to revise the target.

The meeting is being held to look into the specific causes for the slowdown and ease the problems faced by exporters and commodity boards.

The note which will be read out by commerce minister B B Ramaiah points out oil meals and spices as high growth areas.

Sources said spices exports in value terms in April-September have risen by 57 per cent.

Ramaiah will inform the board that the issue of MAT on exporters is still being discussed between his ministry and the finance ministry and that the ministry expects a positive response on this.

 

Moderate growth has been registered by electronics, coffee, cotton yarn fabrics and petroleum products. Low growth has been registered by rice, cashew nuts, fruits and vegetables, marine products, other ores and minerals, basic chemicals, engineering goods and jute manufacturers.

Items showing negative growth include leather manufacturers, man-made yarn fabrics, tea, tobacco, iron ore, handmade carpets, handicrafts, plastic and linoleum.

The analysis reveals that exports to west and east Europe have declined while exports to Asia, Oceania and Africa have remained stable. Exports to the US during the period have risen by two per cent.