India's export drops by 3.67% in Feb 2014

The February 2014 trade deficit for India came in at USD 8.13 billion versus USD 14.12 billion in the corresponding period last year. The reduction was driven by a 17.09 percent fall in imports, which came in at USD 33.82 billion while exports fell by 3.67 percent to USD 25.68 billion.

The economic conditions in the U.S. and the euro zone are not very favorable for exports and we hope the Indian government will help the exporters by providing help by way of including more products and countries for Focus Product Scheme and Focus market Scheme, where we have a comparative advantage and this should be addressed on a priority basis as it will give the necessary push to the industry and help them reach the export target. We hope an industry friendly FTP is announced soon which will help stimulate India’s exports, said Mr Sanjay Budhia, Chairman of CII National Committee on Exports and Imports.