Dr. A Sakthivel reacting on the trade data announced for the month of February 2013 remarked that, Positive exports data from the last two months shows that gradually economy is showing positive sign.
To keep the momentum going it is important that Government keeps availability of credit to industry at lower rate. Separate chapter for exports can be game changers in this regard.
The recent increase in cotton and yarn prices have put additional burden on the garment sector therefore, I have requested Government to allow duty free import of yarn, as they have allowed for import of cotton for the yarn manufacturers.
Two major exports destination has still not recovered. India’s apparel exports to EU and USA has recorded a shortfall by 14% and 2%, respectively. However, exports to non- traditional market have risen in year 2012, due to the supportive policy announced in FTP by Shri Anand Sharma.
Commerce Secretary, Shri S. R. Rao, released the provisional figures for the month of February 2013, where exports grew by 4.25% and imports by 2.6%.
