In fact the participants didn’t seem too optimistic about a possible improvement in the overall export conditions over the next two quarters. A majority 47% of the respondents said that they foresee no change in the export conditions over next six months.
However, one of key positives that came out in the survey was diversification of exports in terms of direction and this can be a pillar of some support to the sector. Members of the Indian exporting community reported that countries/ regions like Africa, Middle East, South East Asia and Latin American region would see an improvement in demand in the next six months (July-Dec’12).
Until now Europe and the US have been the primary export markets for India. The new strategy for India should be targeting other countries like Africa, Middle East etc to take the next leap forward. Not only this, the country should also strive to diversify its product mix with greater focus on exporting technology intensive goods.
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