India's exports may show a further decline for the sixth straight month in March due to demand contraction in the markets such as the United States, the European Union, Japan and the West Asia, a survey by the industry chamber Federation of Indian Chambers of Commerce and Industry (Ficci) revealed. The survey was conducted in the last two weeks of March and about 125 entities were surveyed for the purpose.
While engineering goods, gems and jewellery, chemicals, marine products, tyres and to some extent leather are among the sectors that anticipate negative or zero growth, processed food and agro-items, sports goods and apparel exporters expect a modest growth of 1-5% in 2009-10. Pharmaceutical exports from the country, which are immune to changes in income levels, are expected to grow by more than 13% because of lesser presence of Chinese pharmaceutical companies in the international market.After showing an impressive growth of over 30% in the first six months of 2008-09, India's exports started contracting in October, when shipments dipped 12.1% for the first time in five years due to the recession in the developed markets.
While the US and European Union together constitute more than one-third of India's total exports, markets such as West Asia, the Asian region and Japan, account for about 15%, 2.4% and 10% of the country's overall exports. The official export data for March is scheduled to be released on May 1.
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