The Hindu : Business : India to miss export target: D&B

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Wednesday, Jan 07, 2009
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India to miss export target: D&B

Special Correspondent

NEW DELHI: India is likely to miss its export target of $200-billion this fiscal as exporters battle increase in credit risks amid slump in demand in the developed economies, global research firm Dun and Bradstreet said on Tuesday.

“Exporters have been hit hard as credit risks are increasing besides demand is down significantly. We think in this scenario the country is likely to miss the export target of $200-billion this fiscal,” Dun & Bradstreet Chief Operating Officer Kaushal Sampat said here in a statement.

For the current financial year, the trade deficit would be around $121 billion, where in exports would be about $182 billion and imports would be about $303 billion, the research firm said.

The outlook is negative in this sector and exports are likely to dip further as there is a crisis of confidence.

Though the Government has taken proactive and timely steps but there has been a significant dip in confidence level.

“The steps taken in the stimulus package were in the right direction and these steps would provide liquidity into the system. But more needs to be done,” Mr. Sampat said.

Regarding layoffs, he said, companies are cutting down excess manpower.

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