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Exports rise as exporters focus on new markets
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Bikky Khosla | 03 Jun, 2008
April proved to be a good month for the Indian economy in general and the export community in particular as the country recorded a commendable export growth with shipments jumping 31.5 percent to $14.4 billion from a year earlier.
The only discomforting fact that came from these figures was India's trade deficit which increased by more than $3 billion in April from a year ago.
Riding on a prevailing weak rupee, exporters made hay and not surprisingly, US emerged as the foremost partner country, although Europe, Japan, and other developing Asian nations emerged as the next best destinations. The saving grace came mainly from sectors like gems, jewelry, and other manufactured products.
What is more impressive about April's export figures is that there is a realization in finding alternate markets with the slowing demand from the US. We need to export to countries like Mongolia, Bosnia- Herzegovina, Albania, Macedonia, Croatia, Honduras, Djibouti, Sudan, Ghana and Colombia. These will help us to counter the US slump. Even the government is now taking initiatives to promote these countries as key export nations.
It was always India's low-cost, labour-intensive exports and sectors like textiles and leather that have kept the Great Indian Export Dream alive and kicking. With the weaker currency going in favour of the export community, I feel more good news will come our way in the days to come.
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Services Sectror NEeds Overhaul
Quintin Rozario | Tue Jun 3 21:15:13 2008
India has been slow to revitalise and to revamp its world class services sector in education especially in the fields of medicine, engineering and the sciences.
Whilst the term services sector is too often confined to the lower levels of tourism, hospitality and call centres, India has always had a reputation as a great education destination. Adding to this the alternative health care of which India is pioneer, India has enormous potential to attract billions of dollars of revenue from the west and affluent sectors of the developing world if it would only take the decision to upgrade public health, basic amenities and infrastructure, offer incentives to operators in these sectors and set standards in these fields.
Thus far although these industries exist, they are inefficient and poorly set up and standards vary greatly between operators. The result is that lesser countries with better presentation skills and greater effort to present an efficient and more tempting front gain. Australia is but one of these.
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Re: Services Sectror NEeds Overhaul
Om Trehan | Wed Jun 4 16:26:49 2008
The single solution to Indian problems is time bound judgments with hefty fines and punishment for any corruption or illegal action by any individual at any level doing this.
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Re: Re: Services Sectror NEeds Overhaul
S.Parthasarathy | Wed Jun 11 15:53:07 2008
Most of the Indians are well aware of this fact. But who is going to bell the cat?
Few good people blessed with some opportunity to do some thing towards this were systematically sent out as soon as they start making little noise.
Our beloved country, the legend will have it's time.No other go, let's wait with confidence for the saviour.
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Re: Services Sectror NEeds Overhaul
Ramakrishnan | Thu Jun 12 07:18:49 2008
Government has to give more importance for improvement in public sanitation &cleanliness in order to boost tourism. A PPP model would defenitely work very well.
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Re: Re: Services Sectror NEeds Overhaul
Quintin Rozario | Sat Aug 30 09:45:26 2008
Perhaps the PPP model is whats needed then. A great suggestion.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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