New Delhi, Mar 15: IF slower economic growth in the US led to a fall in India ’s export growth in the past, a robust growth of the US economy should raise India ’s export likewise. But this has not happened. The US economy grew by a record 6% during the second half of 2003, but India ’s export growth has decelerated. Aggregate exports have grown by 12.7% during the first ten months of the current year, between April 2003 and January 2004, compared to a 17% rise during the same period in the previous year. For the record, exports grew by over 19% for the full year in 2002-03.

Exports to the US have declined by 1.1% during April-November 2003, compared to the corresponding period in 2002. The share of US in India ’s total exports as a result, has declined by over two percentage points from 21.2% during April-November 2002 to 19.1% now. India ’s exports to other countries in contrast, have grown at a much higher rate. Thus, while India ’s total export including that to US has grown by less than 10% during April-November 2003, it has increased by about 13%, excluding the US . Bureau Report