New Delhi, Apr 20: Lauding the export-facilitating measures unleashed by India, the United Nation's Economic and Social Commission for Asia and the Pacific (ESCAP) has estimated an export growth of 15 per cent in the country during 2002-03 as against the target of 12 per cent. Though the share of agricultural exports declined to 12 per cent in 2002 from 20 per cent in 1996, computer software and service industry emerged as the major export earners, contributing an estimated 10 billion dollars during the last financial year, said a report by ESCAP.
"This upsurge was due to various export-facilitating measures, stability of the Indian rupee and strong performance in such key sectors as ready-made garments, engineering goods, chemicals, leather and leather products, ore and minerals, basic metal and petroleum products", according to the recently released report.
It said despite the continuing weakness in the global economy, FDI flows into India grew by 2.4 per cent, to 4 billion dollars in 2002, reflecting the ongoing improvement in infrastructure.
Further liberalisation of foreign investment policies and removal of economic sanctions on India by the United States also helped in enhanced FDI inflow into the country, it sa Bureau Report