Indian exports to the E.U., U.S. coming down

By agencies   |   Monday, 28 March 2005, 08:00 Hrs
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NEW DELHI: The big news on the export front is that over the past 50 years, India has been steadily reducing its reliance on unreliable markets. Exports to the European Union, the U.S. and Japan have been steadily coming down. The decline has not been smooth. With chancy markets, the descent has been jerky.

A greater portion of Indian exports is now being channeled towards Iran and West Asia, and other developing countries across Asia that have proved themselves to be reliable trade partners and capable of supporting steady long-term growth.

India's exports to the E.U. stood at 18.4 percent and 21.6 percent in the years 1970-71 and 1980-81, and between 21 percent and 23 percent annually from 2000 to 2004.

Exports to the U.S. accounted for 13.5 percent and 11.1 percent in 1970-71 and 1980-81, respectively. During the period from 2000-01 to 2002-3, they hovered around 20 percent. As for Japan, the figures for 1970-71 and 1980-81 are 13.3 percent and 8.9 percent, respectively, and thereafter, between 3 percent and 4 percent. Exports to other Asian countries have been steadily increasing decade after decade with hardly a hiccup.

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