Financial Daily from THE HINDU group of publications
Sunday, Jun 02, 2002
Financial Daily from THE HINDU group of publications Sunday, Jun 02, 2002 |
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Exports & Imports Industry & Economy - Exports & Imports Exports recover, up 18% in April Our Bureau
NEW DELHI, June 1 AFTER a low export growth of 0.08 per cent against the pruned three per cent target in the last fiscal, the first month of the current fiscal export performance looked up with exports fetching $3,680.89 million, marking a hefty 18.17 per cent growth as compared to the month of April 2001. Provisional figures compiled by the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that India's imports during April 2002 are valued at $4,090.11 million, which is a decline of 0.09 per cent over the level of imports valued at $4,093.97 million in April 2001. Trade deficit at $409.22 million for April, 2002 is slightly less than half of the April 2001 figure which was $978.97 million. Oil imports during April 2002 are valued at $1,296.24 million, which is 8.31 per cent higher than oil imports valued at $1,196.83 million in the corresponding month of 2001. Non-oil imports during April 2002 are estimated at $2,793.87 million, 3.56 per cent lower than the level of such imports valued at $2,897.14 million in April 2001. Officials in the Commerce Ministry ascribe the relatively salutary opening month's performance to the good show put up by traditional items like textiles, engineering and chemicals and related products in response to the modest rebound in consumer demand in the Western markets. They refused to hazard any guess as to the likely target for this current fiscal since one month's performance was not a sure guarantor that things would go well in the remaining months. They, however, said that the Commerce Ministry has convened a meeting of the Export Promotion Councils (EPCs) and Commodity Boards here under the chairmanship of the Commerce Secretary, Mr Deepak Chatterjee, on June 10 to fix the current fiscal export target and also to weigh the imponderables and uncertainties that might likely to unfold even as the second half of the current calendar year is presaged to show incipient signs of recovery of the global economy.
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