Indian exports finally looking up: CII
New Delhi, Mar 11 : The Confederation of Indian Industry (CII) on Monday praised government measures for boosting exports.
Commenting on the export figures released on Monday, Sanjay Budhia, Chairman, CII National Committee on Exports and Imports, said: "We are happy that some measures taken by the government is helping push up exports. We are eagerly awaiting the announcement of the Foreign Trade policy, where some important issues like SEZ, fiscal incentives, reducing cost of credit and transaction costs will help Indian exporters become more competitive."
"We should also try to align MLFPS and FPS benefit to tough and big markets. This will encourage exporters to target high potential markets. Also these benefits may be provided to those tariff lines where growth in world trade is lower in relative terms. Also India should try to increase its share in high tech industries," said Budhia.
"We are happy that India's exports have risen by 4.25 % to USD 26.26 billion in February up from 25.19 billion USD last year mainly on account of engineering goods, textiles, rice, oil meals, pharmaceutical and chemicals," he added.
Exports during February, 2013 were valued at US $ 26259.36 million (Rs. 141206.31 crore) which was 4.23 per cent higher in Dollar terms (13.99 per cent higher in Rupee terms) than the level of US $ 25194.42 million (Rs. 123873.66 crore) during February, 2012.
Cumulative value of exports for the period April-February 2012 -13 was US $ 265946.37 million (Rs 1446626.70 crore) as against US $ 277124.56 million (Rs 1320835.99 crore) registering a negative growth of 4.03 per cent in Dollar terms and growth of 9.52 per cent in Rupee terms over the same period last year.
Imports during February, 2013 were valued at US $ 41181.65 million (Rs.221448.99 crore) representing a growth of 2.65 per cent in Dollar terms and 12.27 per cent in Rupee terms over the level of imports valued at US $ 40118.54 million ( Rs. 197251.21 crore) in February, 2012.
Cumulative value of imports for the period April-February, 2012-13 was US $ 448036.78 million (Rs. 2436564.45 crore) as against US $ 446938.82 million (Rs. 2132198.17 crore) registering a growth of 0.25 per cent in Dollar terms and growth of 14.27 per cent in Rupee terms over the same period last year.
Oil imports during February, 2013 were valued at US $ 15148.3 million which was 15.45 per cent higher than oil imports valued at US $ 13121.0 million in the corresponding period last year.
Oil imports during April-February, 2012-13 were valued at US $ 155568.4 million which was 11.92 per cent higher than the oil imports of US $ 138995.2 million in the corresponding period last year.
Non-oil imports during February, 2013 were estimated at US $ 26033.4 million which was 3.57 per cent lower than non-oil imports of US $ 26997.5 million in February, 2012.
Non-oil imports during April - February, 2012-13 were valued at US $ 292468.4 million which was 5.03 per cent lower than the level of such imports valued at US $ 307943.6 million in April - February, 2011-12.
The trade deficit for April - February, 2012-13 was estimated at US $ 182090.41 million which was higher than the deficit of US $ 169814.26 million during April -February, 2011-12.