News St Notes

摘要

Indian exporters managed to battle the global economic crisis with aplomb, to close the 2009-10 fiscal with shipments worth $176.5 billion, a bare 4.7% lower than the previous year, but the shadow of the fresh financial crisis in Europe looms large over the future. The export target of $200 billion for 2010-11 set by commerce minister Anand Sharma, although modest, could be at stake if the Greek contagion spreads to larger parts of Europe. "That (Europe) is the joker in the pack," said commerce secretary Rahul Khullar. Europe accounts for 26% of India's exports. The recovery in exports began in November 2009, after a 13-month contraction, with March exports growth touching an all-time high of 54%.