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New Delhi: India's exports may fall to USD 150-155 billion in 2009-10 from USD 168 billion in the previous fiscal and the declining trend could be reversed from January, President of Federation of Indian Export Organisations (FIEO) A Sakthivel said on Friday. "I expect we may achieve USD 150-155 billion this year and the turnaround is expected from January onward," said FIEO chief. The country's exports contracted for the 11th straight month in August by 19.7 per cent, as demand for merchandise goods saw a sharp erosion in the developed countries which mainly feed India's external trade. The shipments in August were valued at USD 14.3 billion, down from USD 17.8 billion in the same month last year, Commerce Secretary Rahul Khullar said on Thursday. For the April-August period, exports dropped by 31.3 per cent to USD 63.9 billion from USD 93.1 billion. Sakthivel said exporters are receiving business enquiries for Christmas, which, however, need to be converted into orders. "Price remains a key factor in winning the orders," he said asking the government to increase the rates of tax refunds through the drawback mechanism.
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