India'S Textile Exports Fell From 10.28% To 8.11% In 3 Years.
In recent years,
India
foreign
Trade
2 digit growth every year; 2009-10 in fiscal year.
Finance
Tsunami impact volume slightly
decline
After that, India's foreign trade resumed its growth momentum rapidly. According to the latest statistics released by CMIE, its exports in the first 3 quarters of 2010-11 grew by 29.3%, imports grew by 17.8%, and the trade deficit dropped to 88 billion 950 million US dollars.
Estimated 2010-11 fiscal year, India
Export amount
It will reach US $218 billion 500 million, export growth rate of 22.5%, import amount to US $323 billion 300 million, import growth rate of 13.2%, and trade deficit of US $104 billion 800 million.
In the 2011-12 year, the export volume will reach US $253 billion 800 million, the export growth rate will be 16.2%, the import volume will reach US $376 billion 800 million, the import growth rate will be 16.2%, and the trade deficit will be 123 billion US dollars.
In view of the continuous expansion of the trade deficit, the government of India has put forward a number of measures to revitalize exports, including reducing customs clearance time, accelerating the export service tax rebate time, simplifying the export tax rebate procedure for the special economic zone (SEZ), and setting up the leather and handicrafts Industrial Park.
The India business division has also proposed a doubling plan for exports within 3 years. The planning measures include improving infrastructure, removing redundant administrative procedures, increasing existing capacity, providing low interest rate financing and increasing value-added products.
At that time, the export structure of India will be adjusted accordingly, including the proportion of machinery and equipment exports from the current 18.21% of the total export volume to 24%, the proportion of petrochemical products exports increased from 15.77% to 16.22%, the proportion of jade and jewellery exports decreased from 16.27% to 14.22%, textile exports were reduced from 10.28% to 8.11%, and the proportion of agricultural exports decreased from 7.05% to 5%.
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