The downward slide in exports has been arrested with Commerce and Industry Minister Anand Sharma saying the data available for the first three months of the current fiscal indicating a “turnaround”. The figures of April, May and June show the decline has come down from 33 per cent to 29 per cent, he said in the Rajya Sabha.
Sharma said the global economic crisis had adversely affected Indian exports which had witnessed a downward trend from October last year. This was primarily because of the fall in demand from the foreign markets, particularly traditional destinations like the Americas, UK, Euro zone, Japan and Singapore.
“But the downward trend, hopefully, has been arrested,” he said, noting that although the government can give incentives to industry and exporters, the increase in exports finally will depend on the turnaround in the developed economies.
He said the slowdown in exports had led to job losses in labour-intensive sectors and the Commerce Ministry is in the process of compiling the exact figures.
The Labour Ministry has already conducted two quick surveys to assess the impact of the recession on the jobs front.
While the first survey has found that about five lakh people lost their jobs between October-December last year, the second study estimated that employment in select export-oriented sectors has increased in the first quarter of 2009.
Anti-trafficking cells in dists soon
NEW DELHI: In a bid to check human smuggling, the government, in cooperation with the states, is planning to set up anti-trafficking cells in all the districts and is chalking out an integrated national plan for stringent action against those indulging in the crime, Home Minister P Chidambaram said on Wednesday.
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