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Exports increase by 53 percent for domestic exporters
By siliconindia
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Monday, 31 December 2007, 20:30 IST
New Delhi: Against a popular perception of declining profits, slowing down of exports and the adverse impact of a stronger rupee, 53 per cent of domestic exporters revealed that exports had increased during April-September 2007-08.
"On exports, 67 per cent of the respondents expressed confidence in exports expansion for the period October-March 2007-08, while 53 per cent of the respondents revealed that exports had increased during April-September 2007-08," said industry chamber CII's 68th Business Outlook Survey.
However, 88 percent of the respondents felt that the procedural delays have not reduced.
This has been a long-standing hurdle for exporters, which raises transactions costs and needs to be addressed urgently. More importantly 87 per cent of the respondents do not see any change to be happening on procedural delays for the period of October-March 2007-08.
Overall business confidence picked up for the period October-March 2007-08 after a decline during the period April-September 2007-08.
CII's business confidence index (CII-BCI) at 66.3 was higher for the period October-March 2007-08 with an increase of 2.4 points when compared to the previous Business Confidence Survey for the period April-September 2007-08.
However, the Business Confidence Index is down by 5.5 points when compared to the corresponding period last year. The CII-BCI, constructed as a weighted average of the Current Situation Index (CSI) and the Expectations Index (EI), was higher among the non-manufacturing firms (68.3) engaged in provision of services as compared to manufacturing firms (65.1).
The CSI that compares current business conditions has witnessed a marginal increase of 0.2 points for the period October-March 2007-08 when compared with the previous six months.
When compared to the corresponding period last year, the CSI is down 6.3 points, thus reflecting a decrease in current business sentiments.
This reflects that a larger number of responding firms have not appraised better current conditions for growth of the overall economy, the sector in which they operate and their individual company growth performance to be no better compared to the previous six months, April-September 2007-08.