Home > Business > PTI > Report

Rising rupee hits exports to US

March 24, 2004 14:15 IST

Hit by the appreciation in the value of rupee vis-a-vis dollar, India's overall exports to the United States witnessed a negative growth of 1.07 per cent in April-November, 2003 at $7,168 million.

On the contrary, India's imports from that country rose by 17.76 per cent in the period under review at $3144.75 million as against $2670.37 million in the corresponding period previous year.

The share of India's export to US out of its global exports was recorded at 19.08 per cent during the period, down from 21.20 per cent during the corresponding period of the previous year.

Gems and jewellery exports constituted the major share of the total pie, registering an increase of 35.59 per cent to $2551.19 million, as per commerce ministry's trade data.

Readymade cotton garments including accessories witnessed a rise of 9.65 per cent at $691.87 million while cotton yarn, fabrics and madeups increased by 4.71 per cent to $337.39 million in the period under review.

Electronic goods topped the import basket with a growth of 21.20 per cent to $666.81 million in April-November, 2003.

Imports of machinery except electrical and electronics goods from the US recorded a rise of 11.83 per cent at $372.15 million in April-November, 2003.

Transport equipment imports grew by 6.54 per cent at $205.65 million while other commodities witnessed an increase of 9.84 per cent.

The commerce ministry feels that considering the size of US' large import market, there is immense scope for expanding export base by concentrating on quality, price and meeting delivery schedules.


Article Tools
Email this article
Print this article
Write us a letter
Discuss this article



Related Stories


India to lose out on rice trade

Exports to US up 10.5% in 2003

Indian wheat a threat to US



People Who Read This Also Read


IIM-C domestic average salary up








© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.











Copyright © 2004 rediff.com India Limited. All Rights Reserved.