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For the first time, Indian exports have touched the golden mark of $100 billion. That's also an impressive 25 per cent growth in exports in fiscal 2005-06 over the previous year. A look at the sectors performing well and those that are languishing. India has a lot to cheer about on the export front. What with exports breaching handsomely the $92 billion (Rs 4,14,000 crore) target set for the last fiscal and even touching the $100 billion (Rs 4,50,000 crore) mark. The country posted exports worth US$ 88760.40 million (Rs 3,99,421.80 crore) in the April-February period of fiscal 2005-06, according to government data. These exports represent a growth of 26.34 per cent over US$ 70253.17 million (Rs 3,16,139.26 crore) recorded in the corresponding period of the previous fiscal. Export growth during February slowed down but picked up in March. Exports in February were valued at US$ 7834.49 million (Rs 35,255.20 crore), a 12.31 per cent growth over US$ 6975.54 million (Rs 31,389.93 crore) recorded in February 2005. Though data for the month of March have yet to come in, the exports recorded up to the end of February are set to touch, and even cross, the golden mark of US$ 100 billion. Adding to the glad tidings is the fact that the exporters seem to have "run an extra mile" to take India's outbound shipments to way beyond the US$ 92 billion target set by the government. Ores and mineral exports surged 31.54 per cent to $3145.64 million (Rs 14,155.38 crore) in the April-November period from $2391.31 million (Rs 10,760.89 crore) in the same period of the previous year. Exports of iron ore and processed minerals were especially buoyant, growing at 36.80 per cent and 26.36 per cent to $1968.22 million (Rs 8,856.99 crore) and $602.43 million (Rs 2,710.93 crore), respectively. Indian happens to be the world's third largest iron ore exporter. The year gone by saw total iron exports of about 85 million tonnes. The country is planning to enter into long-term deals with China, which alone bought 68.5 million tonnes in 2005-06. The engineering goods exports grew handsomely at 21.20 per cent year-on-year from $8839.85 million (Rs 38779.32 crore) to $10713.90 million (Rs 48212.55 crore) in the April-November period. The growth in this segment mainly came from scorching growth in transport equipment (48.62 per cent), machinery and instruments (28.30) and manufacture of metals (16.92). Gems and jewellery continued to grow at a fast clip, growing to $10121.06 million (Rs 45,544.77 crore) from $8421.98 million (Rs 37,898.91 crore), a growth of 20.17 per cent. This segment boasts of 17.26 per cent share of total exports. Petroleum products posted a sizzling growth of 51.43 per cent, recording $6643.43 million (Rs 29,895.43 crore) in the April-November period as against $4387.06 million (Rs 19741.77 crore) in the corresponding period of the previous year. With state-owned oil majors (IOC, HOCL, BPCL) as well as private-sector giants like Reliance committing huge investments in refineries and petrochemicals, this segment promises a boost in exports performance in the coming years. Its contribution to total exports has already grown to 11.33 per cent. Agri and allied products grew at 12.64 per cent year-on-year to $4149.93 million (Rs 18,674.68 crore) from $3684.22 million (Rs 16,578.99 crore) in the April-November period. The export of rice and pulses were worth $1068.34 (Rs 4,807.53 crore) and $154.97 (Rs 697.36 crore), growing at 46.27 and 92.01 per cent. Oil meals grew 6.31 per cent to $423.74 million (Rs 1,906.83 crore) from $398.58 million (Rs 1,793.61 crore) in the 8-month period under review. Wheat exports, however, declined to $123.09 million (Rs 553.90 crore) from $259.99 million (Rs 1169.95 crore), a negative growth of 52.65 per cent. Nuts and seeds saw a marginal decline of 0.73 per cent to $496.45 million (Rs 2234.02 crore) and groundnut dipped sharply at 20.31 per cent to $52.91 million (Rs 238.09 crore). Export of chemicals and related products also recorded satisfactory growth. The segment grew 11.55 per cent over the year-ago figure of $7729.15 million (Rs 34,781.17 crore) to $8622.04 million (Rs 38,799.18 crore). The growth in this segment, which make up 14.70 per cent of total exports, hinged on 8.22 per cent growth in basic chemicals, pharma and cosmetics as well as rubber glass and other products. Textile exports in the April-November period stood at $8397.58 million (Rs 37,789.11 crore) as compared to $7905.46 million (Rs 35,574.57 crore) in the previous year, a modest growth of 6.22 per cent. The growth came mainly from readymade garments (17.64 per cent to $4566.67 million or Rs 20,550.01 crore). On the other hand, cotton, yarn, fabrics, and made-ups declined 2.24 to $2124.69 million (Rs 9,161.10 crore) from $2173.27 million (Rs 9,779.71 crore). Manmade textiles and made ups also dipped sharply from $1308.80 million (Rs 5,889.60 crore) to $1140.91 million (Rs 5,134.09 crore), a negative growth of 12.83. Electronic goods also grew modestly at 6.71 per cent to $1236.10 million (Rs 5,562.45 crore).
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