%0 Journal Article
%T Export Trade Performance of Indian Economy during and Following the Global Financial Crisis
%A Dr. Sumanjeet Singh
%J Journal of Global Analysis
%D 2011
%I Centre for Strategic Research & Analysis
%X Towards the end of 2008 the effects of global recession started getting reflectedin international trade. The fall in global demand and the slowing-down ineconomic growth translated into a substantial reduction in internationaltrade. It affected the cross-border trade of virtually all countries and economicsectors. Indian exports trade could not remain unaffected in a situation whereexternal demand was dwindling globally. The present paper reviews India¡¯sexport performance during and following the global financial crisis. Indianexports started to decline in July 2008. It declined from US$ 17,095 millionin July 2008 to US$ 11,516 million in March 2009, which accounts for almost33 per cent decline. This growth contraction has come after a robust 25 percent-plus average export growth since 2003. But, as a result of governmentpolicy measures and recovery in global economy, India¡¯s exports growthturned positive and exports grew by a whopping 54.1 per cent in March 2010and recorded the highest growth rate among the world¡¯s top 70 economiesin merchandise exports. India¡¯s merchandise exports during April 2010 at US$16.9 billion recorded a growth of 36.3 per cent as compared with a declineof 32.8 per cent registered in April 2009. Exports witnessed huge annualizedgrowth of 56.9 per cent to $25.9 billion in May 2011 in a bright spot for theIndian economy, which is battling high inflation amid signs of a slowdown.
%K Global Financial Crisis
%K Trade
%K Exports
%K Policy
%K India
%U http://cesran.org/dergi.php?id=63