The Indian exports have risen by 36.2 per cent to USD 16.8 billion in April 2010, despite the threat of the European debt crisis, thereby, marking a growth in exports for the sixth consecutive month.
The Indian exports had dropped by 30 per cent to USD 12.4 billion in April last year causing a lot of trouble for small exporters in particular .The exports have increased on the back of surging demands for gem and jewelry, textile, in the overseas market.
The gem and jewelry and the textile markets are largely dominated by the SMEs and the rise in exports have spelt good news for the sector. But the Eurozone crisis has become a matter of grave worry for these small exporters.
Mr.Parekh,Chairman (Eastern Region) of Gem and Jewellery Export Promotion Council said that the crisis could have affected their exports but they had foreseen this possibility long ago and undertook precautionary measures that did not let it affect them as badly as the global meltdown had. He said that post the recession, he had shifted focus from the key western markets like the US to the Soviet Union, Middle Eastern countries like Uzbekistan, Kazakhstan and some European countries. Gulf countries are lucrative markets and they are hopeful of their exports remaining constant.
If the export conditions remain constant then the Indian exports could touch the government predicted target of USD 200 billion in 2010.