The latest statistical bulletin of India's Ministry of Commerce and industry shows that India's export volume in the last month of fiscal year 2008-09 (March 2009) was only 12 billion US dollars, down 30% from the same period last year. It is the negative growth of India's exports for sixth consecutive months since October last year, and also the biggest month of export decline in India's history.

Total exports in the fiscal year totaled 168 billion 590 million US dollars, up 3.56% from the same period last year, the lowest record of India's export growth in the past 7 years, and lower than the 170 billion year growth target of the India government's newly revised fiscal year.

      印度皮革

The main reason for the sharp decline in India's exports in the current fiscal year is that the financial crisis has led to a decline in demand for India products in Europe and the United States, among which exports of textile, leather, handicrafts and other labor-intensive industries are most severely affected, the express said.

The annual export target set by the India government at the beginning of this fiscal year was US $200 billion, but since the outbreak of the global financial crisis, India's exports have declined since October 2008. At the end of 2008, the India government promptly revised its export target to 1700-1750 billion US dollars.

Editor in chief: Xu Qiyun