Senior Economic Advisor in the Finance Ministry HAC Prasad based his hypothesis on the sequential growth witnessed by exports in May and June.
"While exports growth compared to corresponding month in previous year continues to be negative for the ninth month in a row, exports growth in June 2009 over May 2009 is positive at 16.4 percent. This is in continuation of the positive month over month trend in May 2009 (of 2.4 percent)," Prasad said at a seminar on India International Jewellery Show here.
Mumbai: Impacted by the global turmoil, exports fell for the nine month in a row in June, but there are early signs of recovery in overseas sales, which could register growth from September onwards, a Finance Ministry official said.
First Published: Sunday, August 16, 2009, 13:23