Tuesday, February 03, 2009

What revival?

From The Hindu - Exports show signs of revival:
Halting the sharp fall for the past two months and giving indications of a revival, exports declined by a meagre 1.1 per cent in December 2008 over the same month last year showing a negative growth for the past three months but with signs of withstanding the worsening global economic crisis.
Not so fast:
India's exports in January are expected to plummet by more than a fifth as the global slowdown slashes demand for Indian goods, and the trade minister said further government aid for ailing firms may follow.

"We expect exports in January to be down 22 percent in dollar terms," Commerce Secretary G.K. Pillai said, indicating that overseas sales could decline to $11.5 billion from $14.7 billion a year ago.