Question : DECLINE IN EXPORTS

(a) the details of major commodities/ goods/products being exported by India;

(b) whether the growth in India`s exports has declined sharply by 21% in terms of value in March 2015;

(c) if so, the details thereof indicating the trend in growth of exports in terms of percentage during the last one year from April 2014 to March 2015 month-wise and the reasons therefor; and

(d) the impact of FTP (2015-2020) in boosting India`s exports?

Answer given by the minister

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE) (SMT. NIRMALA SITHARAMAN)

(a) The major commodities/goods/products exported by the India during 2014-15are Petroleum Products; Pearls, Precious & Semi-Precious Stones; Gold & Other Precious Metal Jewellery; Drug Formulations, Biologicals; RMG Cotton including Accessories; Iron & Steel; Products of Iron & Steel; Motor Vehicle/Cars; Aircraft, Spacecraft and Parts; and Marine Products. The item-wise details are available in the DGCI&S publication in CD form namely ‘Monthly Statistics of Foreign Trade of India’ Vol. I (Exports). Such CDs are regularly sent to Parliament Library by DGCI&S, Kolkata.

(b) & (c) India’s exports have declined by 21.1 % in March, 2015 as compared to March 2014. Month-wise data for exports in 2013-14 and 2014-15 is given below:

 EXPORT	(Value in US $ Billion) Month	2013-14	2014-15	% Growth 2014-15 over 2013-14 April	24.5	25.6	4.5 May	24.9	28.0	12.4 June	24.0	26.5	10.4 July	25.8	27.7	7.4 August	26.3	27.0	2.7 September	28.1	28.9	2.8 October	27.5	26.1	-5.1 November	24.2	26.0	7.4 December	26.4	25.4	-3.8 January	26.9	23.9	-11.2 February	25.4	21.5	-15.2 March	30.3	23.9	-21.1 Total	314.4	310.5	-1.2 Source: DGCI&S; : Provisional Figures

The main reasons for the decline in exports during the recent months of 2014-15 are as under:

# Fall in global demand during the period due to slowing down of World Trade.

# Appreciation of Rupee against Euro making exports to Europe, which is a major market for India, less competitive for Indian Exporters.

# Steep fall in the prices of petroleum crude resulting in consequent decline in prices as well as export realizations for petroleum products that are major product items of exports for India.

(d) The Foreign Trade Policy (FTP) 2015-2020 was released on 1st April, 2015. It is expected that FTP 2015-2020 will diversify India’s export markets and products and give a boost to India’s exports.

The FTP 2015-2020 has introduced simplification of various schemes and procedures as well as other trade facilitation measures that have been generally welcomed by the trade and industry. It is expected that with the introduction of the new foreign trade policy, India would become a significant participant in world trade and assume a position of leadership in international trade discourse.

Question : DECLINE IN EXPORTS

Answer given by the minister

Search

More from COMMERCE AND INDUSTRY

Other Ministries: