Indian Foreign Trade :On the road to recovery.

According to the Press Release on Indian Foreign Trade :In November'09 ,exports at $13.19 billion were 18 per cent higher than a year ago.Cumulative value of export for the period April -November,2009 was $104.24 billion as against $134.20 over the same period last year.For this month,imports were valued at $22.88 billion representing a decrease of 2.6 per cent over same month last year.This could provide some relief to the import sector given the double-digit decline witnessed through the fiscal year till October.Positive export growth along with decline in import helped in decreasing the trade deficit to $66.18 billion during April - November,2009 from $100.15 billion during the same period last year. Given the continued fall in the both imports and exports for nearly 12 months , trade figure for November 2009 could give some hope of positive growth for year 2010.

Due to recession during last fiscal year in the major overseas market like United States,Japan and Europe,there has been a decline in the demand for goods which resulted in the decline in export in India along with other exporting economies.But with the worst of the recession behind them,these countries would be able to import more from India.An appreciating rupee has been other area of concern for the export sector but with improving american economy it will not be a big hurdle in coming months. .Central government decision to continue with economic stimulus package till the apt time is a positive move as this will help in sustaining the positive trend in exports over the remaining months so that the annual target is achieved.With government willing to support export sector particularly the labour-intensive export segment and all other positive trends, year 2010 seems to be a promising year for import-export sector.