New Delhi: The government on Monday said in the Lok Sabha that though there were no signs of recovery in the global economic scenario, the sharp fall in Indian exports seems to have been arrested.
This is because of many steps taken by the government, including two stimulus packages and benefits provided in the budget, Commerce Minister Anand Sharma said during Question Hour.
"There are no indications that base statistics will improve until October 2010... But, we do hope that steps taken by the government will have stabilising impact on the domestic exports sector," he said.
Gems and jewellery, textiles, leather, marine products and handicrafts are some of the sectors whose exports were impacted due to global slowdown, he said adding the downfall started since October 2008.
In March/April exports were down by 33 percent but in the last two months the decline is less than 30 percent.
"I can say that due to various steps taken by the government, the sharp fall has been arrested," Sharma said, and pointed out that there were no signs of recovery in the global economic scenario.
"Government and RBI are closely monitoring the economic developments in the country and global situation, and have been taking appropriate steps to arrest the decline in exports. The government announced a number of measures in the stimulus packages, as well as in the budget 2009-10," he said.
Bureau Report
First Published: Monday, July 27, 2009, 15:44