India says the worst of the recession is over
02/03/2010
The Indian economy registered growth in exports of 11.5% in January 2010 compared to the same month last year. This was the third consecutive month of export growth. The leather sector, however, was not among the top performers.
Continuing its steady rise for the the third consecutive month, India's January exports grew by 11.5 per cent, signaling the worst of the recession is over.
Exports across all sectors had a combined value of $14.3 billion in January compared to $12.8 billion a year ago.
Local media quoted analysts as saying that the rising trend shows that the worst for India’s exports is over. The commerce ministry said fruits and vegetables, marine products and tobacco did well in January, while sectors like tea, coffee, gems and jewellery, drugs and plastics also improved.
However, leather, along with engineering goods, textiles, jute, carpets and handicrafts, continued to fare badly.
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