India’s exports to EU rise 24 per cent in April-Dec, defying slowdown

- Advertisement -

Contrary to perceptions of a major slowdown, India’s merchandise exports to the European Union (EU) are rising at a robust rate. Latest provisional data show that shipments during April-December 2011 to that region rose 24 per cent to $38.5 billion from around $31 billion during the corresponding previous period, according to a Business Line report.

The official data on region-wise exports for April-June 2011 show that shipments to the EU were worth $13.4 billion. The growth rate of exports to the EU during the first three quarters this fiscal is almost at par with that of India’s overall exports during the same period — which is a 25.84 per cent increase to $217.7 billion. There was a general feeling that since the EU is a traditional destination accounting for nearly a fifth of India’s total exports, a fall in exports to that region was a key factor impacting India’s cumulative export performance.

“Such perceptions are highly exaggerated. The latest trends show that the spending pattern of Europeans on basic items has not gone down and they are still managing to keep up their high standard of living,” a senior official said.

- Advertisement -

Shipments to the UK during the first three quarters of this fiscal had risen a healthy 27 per cent to $6.2 billion, while that to Germany went up by 25 per cent to $5.6 billion. The the only main country to which exports during the period fell was to France, with shipments shrinking 6.7 per cent to $3.2 billion.

However, even exports to Portugal, Ireland and Spain — impacted most by the Euro Zone crisis showed a positive growth and as did shipments to the financially troubled Italy. Though disaggregated sectoral details of exports to EU during April-December 2011 were not immediately available, electronics shipments to the EU had contracted by 18 per cent in October.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

SEZ: 100% WFH Facility Extended till Dec 2023

0
The union commerce ministry said that IT/ITeS units in special economic zones can allow 100 per cent of their workforce to work from...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Exclusive

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

My Dream Is To See India As A Top Electronics Product Nation

0
Hailing from a highly educated, partition-affected family with a rich musical and cultural lineage, being a pioneer of the computer revolution in India, Ajai...

Important Sectors

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

Optoma Launches Eco-Friendly Laser Projectors

0
Laced with the latest laser technology and higher power conversion efficiency: Optoma A 34% reduction in size as compared to the previous generation...

36 Volvo Electric Trucks Ordered by Australia

0
Placed by Team Global Express, these trucks will hit the streets of Sydney in 1Q23. This is Volvo’s largest electric truck order to date...

Manufacturing

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

ESDM-Hub in the Making: EPIC Partners With Odisha

0
The proposed initial product line for the collaboration will include manufacturing an Indian tablet PC with global quality Underprivileged people of the state...

SiC Substrate Manufacturing Tech: ST Set to Cooperate With Soitec

0
Soitec technology adopted by STMicroelectronics for future 200mm Silicon Carbide substrate production Global semiconductor giant, STMicroelectronics and Soitec, a leading semiconductor materials manufacturer, recently announced...

Luxoft Expands Presence in India with Opening of New Chennai Office

0
The new site will extend Luxoft’s ability to understand, develop, and seamlessly deliver tailor-made, end-to-end software solutions to clients in Chennai and across the...

Veira Group Set to Manufacture webOS Hub 2.0 Smart TVs

0
Veira—a strategic ODM India partner for the OS—aims to manufacture over a lakh webOS Smart TVs for leading Indian brands webOS Hub is...