GROWTH OF EXPORTS

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The Associated Chambers of Commerce & Industry of India (ASSOCHAM) had carried out a study titled "Analysis of India's Export Growth Performance", in May 2003 for the period April-November 2002-03 as compared to the corresponding period of the previous year. The salient features of the study are as follows:

1. Exports growth to Asia and Oceania has been the highest followed by North America, Latin America and West Europe.

2. Exports to developing countries have increased more relative to developed/advanced economies.

3. There has been a surge in exports to Asian countries.

4. There has been a quantum jump in exports to China, Singapore, Indonesia, Sri Lanka and UAE, whereas Bangladesh and Hong Kong have registered a decline.

5. United States continues to be the foremost destination for Indian exports.

6. In overall terms, during the period under study, India's exports have grown impressively by 18.05%. (Latest provisional DGCI&S figures indicate a growth of 19.2%).

Region-wise exports of India as a percentage of total exports in dollar terms and growth rate of exports are given below:

2001-02 (% to total exports)	2002-03 (% of total exports)	Growth rate (%)
Asia & Oceania	38.54	42.85 (32.53)
North America	20.76	22.10 (26.91)
Latin America	2.18	2.45 (34.03)
Western Europe	24.13	23.37 (15.41)

India's exports of merchandise goods to Africa in 2002-03 has registered a growth of 8.24% in dollar terms as compared to the previous year. Programme like "Focus: Africa" have been launched to further increase exports to the African region.