India's total exports jump by 4.8% to $315 Billion in 2013-14

[Chanakya's_Chant]

India's total exports jump by 4.8% to $315 Billion in 2013-14

In 2012-13, the outbound shipments declined by 1.8 per cent to USD 300.4 billion. (Reuters)
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India's exports will not be able to achieve the target of USD 325 billion in the current fiscal and will fall short by about USD 10 billion, FIEO today said.

"Domestic factors like declining manufacturing growth and slow improvement in the global demand are the main reasons for slow growth in the country's exports.

"We will not be able to achieve the USD 325 billion exports target," Federation of Indian Exports Organisation (FIEO) President Rafeeq Ahmed said.

The country's merchandise exports would touch USD 312-315 billion by the end of this fiscal, ending March 31.

During April-January, exports grew by 5.71 per cent to USD 257 billion, while imports dipped by 7.81 per cent to USD 377 billion. The trade deficit was about USD 119 billion.

In the remaining two months (February and March), the country requires about USD 70 billion to reach the target.

Finance Minister P Chidambaram in the Interim Budget speech has said that India's exports are expected to grow by 6.3 per cent to USD 326 billion during the current fiscal.

In 2012-13, the outbound shipments declined by 1.8 per cent to USD 300.4 billion.

Ahmed said that liquidity is a big issue for exports and pending claims of refund of service tax, duty drawback, rebate claims and VAT are affecting exports.

"The government should not fix annual targets for exports. We should fix a target for five years and work accordingly," he added.

FIEO is working on a paper for the new Foreign Trade Policy for 2014-19.

"In the next two and a half months time, we will submit the paper with our recommendations to the new government. It will includes measures which should be taken up to boost exports," Ahmed said.

There is an urgent need to enhance investments in building infrastructure such as roads and ports, he said.

"Inadequate infrastructure is impacting exports. Transactions costs is very high," he said, adding that the banks should provide credit at affordable rates to exporters.

The manufacturing sector, which constitutes over 75 per cent of the index, declined by 1.6 per cent in December, as against a contraction of 0.8 per cent in the year-ago period.

Source(s) and Reference(s):- India not to achieve $325 billion export target this fiscal: FIEO - Financial Express
Exports decline 1.76% to 300.6 billion dollars in 2012-13 - The Times of India


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[Srinivas]

India has the potential to improve the exports, it all depends on the next government and the policies they implement.

 

[acetophenol]

I didn't knew that we even exported stuff worth $315 Billion

 

[karan21]

This is pathetic performance. Countries like South Korea and Taiwan export more than us. China's one province alone exports twice as much. If GoI is proud of this number then we can only have remorse at the state of our manufacturing industry.

Subsidies for manufacturing sector especially the labour intensive industries and electronics is the need of the hour. But government wants the food security worth 30 bill $. India is heading in the negative direction.

2014 needs to be decisive. Unstable government in the center will lead to total dispersion from the important issues.

 

[xuxu1457]

This is pathetic performance. Countries like South Korea and Taiwan export more than us. China's one province alone exports twice as much. If GoI is proud of this number then we can only have remorse at the state of our manufacturing industry.

Subsidies for manufacturing sector especially the labour intensive industries and electronics is the need of the hour. But government wants the food security worth 30 bill $. India is heading in the negative direction.

2014 needs to be decisive. Unstable government in the center will lead to total dispersion from the important issues.

Not bad, If India is a province of China, it will be the 3rd largest export province in 2013
Guangdong province export 636billion $
Jiangshu province export 329billion $

 

[Srinivas]

Not bad, If India is a province of China, it will be the 3rd largest export province in 2013
Guangdong province export 636billion $
Jiangshu province export 329billion $

You are talking about 1.2 Billion people and a vast territory with huge resources.

Chinese provinces are small but are performing to their potential. Not the case in India.

 

[Chanakya's_Chant]

India has the potential to improve the exports, it all depends on the next government and the policies they implement.

Next Government = BJP led NDA government with Narendra Modi with its Prime Minister - cite this directly - it sounds good!

Meanwhile as a whole - we improved our position from #19 in 2012 with $300.6 Billion exports to #17 in 2013 with $315 Billion exports! A good indication indeed as we had slipped down last year only with our exports dropping by 1.76%

Source:- List of countries by net exports - Wikipedia, the free encyclopedia

 

[Beidou2020]

I though India was top 10 already.

 

[Edison Chen]

It seems India is catching up.

India manufacturing PMI rises to 51.4, highest since March - Livemint

 

[cirr]

It seems India is catching up.

India manufacturing PMI rises to 51.4, highest since March - Livemint

PMI is a relative indicator。It is nigh meaningless for measuring the strength of a country‘s manufacturing if growth is puny as it is。

Take China as an example。Its manufacturing output is growing at some 10% annually per the latest figure。A PMI of less than 50 means that manufacturing growth is slowing a bit and maybe expanding at an annualised rate of 9.5% a few months down the road。

Since India's manufacturing output is either contracting or growing at an anemic pace，a PMI over 50 indicates a slight nudge towards growth。

 

[Chinese-Dragon]

Should be more.

Though overall manufacturing is more important than exports.

Most Chinese manufacturing is consumed internally within the domestic market.

 

[Srinivas]

Should be more.

Though overall manufacturing is more important than exports.

Most Chinese manufacturing is consumed internally within the domestic market.

@Chinese-Dragon
I would like to know the situation in China. Due to the credit tightening policies of CCP there are some defaults and some real estate prices going down.

Even though China has 3.5 Trillion reserves, the estimated credit crisis is close to 2 Trillion at max. and then there is rise in the wages due to non availability of labor.

In total CCP is looking to transform the chinese economy into services driven and domestic consumption based.

But it seems the above model will not achieve high rates of growth.

 

[Chinese-Dragon]

But it seems the above model will not achieve high rates of growth.

We need to have at least 7% growth for the next ten years.

After that we can afford to slow down, because our "base economy" will be larger, so our percentage growth rate doesn't need to be so high.

It will be difficult but I hope we can do it.

 

[45'22']

Should be more.

Though overall manufacturing is more important than exports.

Most Chinese manufacturing is consumed internally within the domestic market.

i used to think you are a troll like many of the chinese members on pdf
fortunately, i was wrong

hope we collaborate more in business and have good relations among ourselves