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India's negative export growth can still hope for a turnaround

India's exports still have a ray of hope with the possibility of a rebound in coming months despite a negative growth trajectory for nine months, from December 2014 to August 2015. Indian exports registered negative growth in 68 of the top 100 export destinations ranging from 10 per cent to 50 per cent.

All top 10 export destinations of posted negative growth: Saudi Arabia (minus 49.7 per cent), Singapore (minus 30.70 per cent), China (minus 20 per cent), Bangladesh (minus 16.4 per cent), Germany (minus 10.3 per cent), Hong Kong (minus 6.4 per cent), UAE (minus 4.8 per cent), Sri Lanka (minus 4.73 per cent), Britain (minus 3.83 per cent) and US (minus 3.82 per cent).

However, 32 of the top 100 destinations: Australia, Canada, Norway, Bahrain, Iraq, Czech Republic, Chile, Ghana and Afghanistan, among others, witnessed growth ranging between two per cent to 50 per cent. Exports constituting labour intensive products demonstrated positive growth. These included handicrafts, jute, ceramic products, carpets, tea, readymade garments and spices.

Experts say that the government should focus on encouraging exporters to venture into new countries and should launch information portals for providing comprehensive information about export opportunities in various markets.