Monday, 13 August 2012

Effect of Economic Recession on Import-Export Trade


Anticipating that the situation is likely to be adverse, Government had announced a package on 5th June, 2012.  In addition a strategy paper to double our exports by 2013-14 was released in May 2011.  Earlier measures taken by the Government and RBI include the announcements made in the Budget 2009-10 and 2010-11; in the Foreign Trade Policy (FTP)
2009-14; thereafter in January / March 2010; in the Annual Supplement to FTP released on 23rd August, 2010; and in announcements made in February and October, 2011.   To increase our share in various export markets and to diversify our market and products, incentives have been provided under schemes viz. Focus Product Scheme, Focus Market Scheme, Market linked Focus Product Scheme and VisheshKrishi and Gram Udyog Yojana. 

Figures are  in billion US Dollar
Sl. No.
Commodities Groups
2010-11
2011-12 @
2012-13
(April-June)  @
1
Engineering Goods
49.8
58.2
14.7
2
Petroleum Products
41.5
55.6
12.9
3
Gems & Jewellery
40.5
47.0
10.1
5
Drug, Phrmcutes & Fine Chemls
10.7
13.2
3.4
4
RMG of all Textiles
11.6
13.7
3.2
6
Other Basic Chemicals
8.6
11.2
2.8
7
Electronic Goods
8.2
8.9
2.1
8
Cotton Yarn/Fabs./made-ups, Handloom Products etc.
6.1
7.4
1.5
11
Rice
2.5
4.9
1.5
9
Plastic & Linoleum
4.7
6.4
1.4
10
Man-made Yarn/Fabs./made-ups etc.
4.3
5.1
1.2
12
Leather & leather manufactures
3.8
4.7
1.1
14
Mica, Coal & Other Ores, Minerals including processed minerals
3.9
3.7
1.0
13
Iron Ore
4.7
4.4
1.0
16
Spices
1.8
2.7
0.7
15
Marine Products
2.6
3.4
0.7
17
Oil Meals
2.4
2.4
0.6
18
Fruits & Vegetables
1.2
1.3
0.3
19
Coffee
0.7
1.0
0.3
21
Carpet
1.0
0.8
0.2
22
Tobacco
0.9
0.8
0.2
20
Cashew
0.6
0.9
0.2
23
Tea
0.7
0.9
0.1
24
Jute Mfg. including Floor Covering
0.5
0.5
0.1
25
Handicrafts excl. hand made carpet
0.3
0.2
0.02
26
Computer Software
0.1
0.1
0.01

Sub-Total
213.8
259.5
61.3

Total
251.1
304.6
75.2
Source : DGCI&S.   @: Figures are provisional
This information was given by the Minister of State of Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Rajya Sabha today.

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