India's exports may fall to $150-155 billion in 2009-10 from $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 today.
"I expect we may achieve $150-155 billion this year and the turnaround is expected from January onward," FIEO chief said.
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 $14.3 billion, down from $17.8 billion in the same month last year, Commerce Secretary Rahul Khullar said yesterday.
For the April-August period, exports dropped by 31.3 per cent to $63.9 billion from $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.
