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Despite positive export growth situation still remains grim
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Bikky Khosla | 12 Jan, 2010
Exports for the second straight month showed considerable growth after a 13-month decline. In December exports grew 16 per cent year on year to $ 14.6 billion. However I feel the problems of our exporters are far from being over.
A day ago, the rupee closed on a 16-month high of 45.33 against the US dollar and since April 2009 the Indian currency has risen nearly 10 percent against the dollar. A stronger rupee always hurts exporters because every dollar in export earnings fetches less rupee and if the rupee remains below Rs 45 then it will be a big blow to the export community in the days to come.
While our authorities are elated over the recent positive growth of India's exports, if we compare our recent growth figure with that of neighbouring China, the nation is probably the world's biggest exporter, with its exports for last year totalling $1.2 trillion.
Although the market realities of India and China have stark differences, for instance, China has artificially prevented the Yuan from appreciating in value in recent years, making its products cheaper in both the domestic and the world markets, nevertheless, the fact remains that India is lagging far behind.
However the recent views of Dr Kerry Brown, a director of Strategic China caught my attention when he said that China was now aiming for a higher-value economy with higher-value exports and that the Chinese government was concentrating on spending more on research, development, innovation and education.
Currently China is known for exporting low-value or cheap everyday goods and if this (exports of higher-value goods) is to happen, India will probably feel the heat because it will directly conflict with India's interest of exporting high value goods.
All in all, the situation of the export sector is still grim.
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small exporter and exchange rate
ashwin | Thu Jan 14 07:52:32 2010
What rate of exchange shall a small Exporter like us use for the USD, thats the moot question. We certainly do NOT see any growth, what growth in Exports ?
India's Export Opportunits
Hu Manly,International Planner | Wed Jan 13 23:19:37 2010
India manufactures goods for its lower class workers and tends to import products for its upper classes.
Therefore,it should focus upon exporting,
to nations like Surnaam,Chile,Peru,Tibet,
Eastern Russia,if its wants its products, to be appreciated and for it to have increased,exports to other nations.
China vs India
Patrick Crowe | Wed Jan 13 23:10:32 2010
I think you make a very big mistake measuring India's value vs China's value.
Patience is the key. The USA will soon be tired of the cheap replacement. They will then be looking for the "real deal". Here is the real deal = China copies, India engineers. America is waiting for you to make your move.
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Re: China vs India
vasu sachdev | Wed Jan 20 11:32:42 2010
we must deploy quality teachers in school and colleges.develop more R&D labs throughout India.Reward librally new inventions.Give 200%tax deductions on R&D expenses.Involve & encourage corporate sector to spend more.Let there be free import of R&D equipments for research purpose.In 10 years action plan we can catchup China.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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