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Home » Finance Current Affairs » Indian export to register 10 % growth: Expert

Indian export to register 10 % growth: Expert

Current Affairs

Coimbatore: Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India (EXIM) said.

Though export witnessed a marginal decline during the last fiscal due to global recession, the growth during this fiscal (2009-10) would be "either flat or marginally negative," T C Venkat Subramanian, CMD, Exim Bank said.

Subramanian, who was here to participate in the third CEO Conference organised by Southern India Mills' Association (SIMA), said almost all the sectors in India were showing a revival or plus-growth, including automobile, plantation and engineering.

Though textile would continue to remain weak in 2009, there could be recovery in the year 2010 and once the demand from the USA and EU improved it was expected to achieve a growth of 10 per cent, he said.

Earlier addressing the conference, Subramanian said "the economic situation is not really that bad and there is a sign of recovery during the last two to three months."

The year 2010-11 would be good for all the sectors, particularly textile, which was feeling the 'cyclic pinch' and that would be 'the year back to business,' he pointed out.

Though there was a steep export growth in textiles and cothing in the first half of 2008-09, there had been slowdown in demand from major markets - USA and EU, due to the global economic crisis, he added.

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