Indian exports are expected to have declined in December and may also continue declining in next couple of months. The Federation of Indian Export Organisations has said that the country’s exports will stay around $175-180 billion in current fiscal, falling nearly 10% short of targeted $200 billion exports over the fiscal.
Indian exports have already declined in excess of 10% for October and November. While the government has taken some measures in fiscal stimulus packages released in early December and then January, analysts believe that no substantial recovery is possible until consumer spending picks up in west. In wake of increasing unemployment and uncertain economic atmosphere, consumer spending has declined sharply in both US and Europe and demand and as a result demand for imports from emerging nations like Indian and China has gone down considerably.