India Has Difficulty In Modifying Its Textile Export Target.
As the world's worst economic crisis after 1930s, India's total exports declined for fifth consecutive months, and exports in February dropped by 21.7% compared with the same period last year. Enterprises and companies are trying their best to tide over this recession.
Exports in the first four months of February 2009, October, November, December and January decreased by 12.1%, 9.9%, 1.1% and 15.9% respectively. The main sectors affected are labor-intensive industries, such as textile, clothing and emery polishing.
The government has cut the export target of the 2008-09 fiscal year (April -3) from 200 billion US dollars to US $175 billion, but the export in the first 7 months of this fiscal year has only been completed by US $156 billion 500 million, so this year's export target is unlikely to be completed.
Editor in chief: Xu Qiyun
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