New Delhi: Exports may be hampered in the next FY 2012-13. Decline in demand from America and Europe has affected exports from India in current fiscal. In the first 10 months of current FY, exports have increased by 23.5 percent. 

While releasing export figures, Commerce Secretary Rahul Khullar has said that slowdown in America and Europe has definitely affected country’s export figures. In July 2011, export growth rate had reached a high of 82 percent. In August 2011, it came down to 44.25 percent whereas it further went down to 36.36 and 10.8 percent in September and October.
Khullar has said that in the period of April to Jan in current fiscal, exports has grown by 23.5 percent to USD 24,280 crore whereas imports have grown by 29.4 percent to USD  39,150 crore. In these 10 months, trade deficit has gone to USD 14,870 crore. Export figures in the current FY are expected to be USD 30,000 crore whereas imports would be around USD 46,000 crore. Similarly trade deficit is expected to be around USD 16,000 crore.

In January, country’s export rises by 10.1 percent to USD 25,400 crore whereas imports have seen a growth of 20.3 percent. Despite the slump in demand from western markets, export has seen a significant growth in January. Import figures are more attractive in January. Khullar has said that due to high prices of crude and edible oil, import has grown by 20.3 percent to USD 40,100 crore. During the month of Jan, trade deficit was USD 14,700 crore. In December 2011, export grew by 6.7 percent.

Khullar has said that due to slowdown in America and Europe, next year will be difficult in terms of export. President of Federation of Indian Export Organizations (FIEO) Rafeeque Ahmad has said that after seeing these figures we can anticipate a tough next year.