Recovery for export sector in the offing

Even though exports from India continue to remain downward, some industry experts are buoyant about witnessing a revival around the last quarter of 2009-10. Some of the chief export sectors such as fabrics, metals and marine products have posted decent growth in the last few months. Experts also believe that revival in other core sectors will also follow suit in the near-term.

The economic indicators signal towards the fact that the worst is behind us and growth prospects for the coming quarters are bright. SMEs engaged in the manufacturing, agriculture and services sectors are also regaining their lost optimism.

Road ahead looks bright

Riding on back of the buoyancy witnessed in some key sectors and the growing positive sentiment over the past few weeks on the domestic front, the SME export units are also expecting the global trading market to rebound very soon.

“Despite the persistent decline in export volumes witnessed since the onset of the global economic slowdown, we are hopeful that the export sector will emerge strongly from the crisis and move into the positive territory from January 2010,” said Adamya Manshiva, creative manager working with Crystal Hues Ltd , a mid-sized creative services firm in New Delhi.

The discernible signs of recovery in the chief export markets in India such as the US, the UK and European countries have also revved up hopes of the SME export sector about witnessing an early revival.

“The sharp surge in inquiries and increase in order inflow over the last few months on account of the rise in global demand have made the SME exporting units upbeat about witnessing a revival during the ensuing quarters,” said Anirban Ghosh, proprietor of Kamal Engineering Works, a small-sized engineering firm in Kolkata.

The sincere attempts made by the Indian government to reverse the declining trend of the country’s exports by providing fiscal incentives, rationalising taxes, initiating growth-oriented policies and bringing about improvements in the infrastructure, can also be attributed for creating a wave of optimism among the SME exporters in the country.

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