Helped by a fall in the value of rupee, Indian merchandise exporters began fiscal 2008 on an encouraging note, the Federation of Indian Export Organizations (Fieo) said on Tuesday.
Indian exports in April 2008 rose sharply by 31.5 percent to 14.4 billion U.S. dollars compared to 10.95 billion U.S. dollars in April 2007.
According to Fieo president Ganesh Gupta, the growth in exports has been mainly on account of shipments of commodities and metals, prices of which are ruling high internationally.
Indian exporters will stand to gain from the depreciating rupee, which is hovering around the level of 42-43 to a dollar.
The rupee had appreciated to 39-40 to a dollar last fiscal, hitting exports of a number of labor-intensive sectors such as textile, leather, handicraft and certain engineering goods.
Exporters, however, are apprehensive about the volatility in the currency value, as it interferes with their price calculations.
Indian merchandise exports during fiscal 2007-08 registered a 23 percent growth to 155.51 billion U.S. dollars from 126 billion U.S. dollars in the previous fiscal.
Source: Xinhua
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