Editorial
Optimistic export target
Its fulfillment depends on coordinated planning and action
THE just-announced export target is higher by 13 percent than that of the last fiscal year closing down with a 4.5 percent shortfall from the target set for that year which was 10 percent higher than the target for the year preceding. The size of the export basket is projected at US$ 17.6 billion for fiscal 2009-10 as against the unachieved target of US$ 16.29 billion. Last year's export performance was evidently poorer because of demand deficit in importing countries owing to recession. Now, the higher projection of export has its foundation in signs of recovery read into the economy of the western world.
Also, a trend analysis of actual export performance is supportive of the roadmap for higher export earnings for the current fiscal year. Exports of knitwear, woven garment, towel, handicrafts, textile fabrics, chemical products, footwear, home textile, computer services and agricultural products increased in 2008-09 fiscal compared to the preceding year. That doesn't mean that the increases have been in absolute terms, being obviously only relatively so.
In other words, there is work to be done even where the signal has been positive, if we are to level off with the projections for the current fiscal. And of course, where the figure is in the minus, as far as exports of tea, raw jute, jute goods, electronics, ceramics, leather and frozen foods are concerned, we do need to redouble our efforts.
We shouldn't be putting all our eggs in the basket of economies recovering; the efforts earlier begun barely while the going was not good in the traditional markets ought to be reinforced by way of fresh market exploration to be able to diversify our exports. Our 44 missions abroad that couldn't separately achieve the targets set for them last year -- their overall performance was satisfactory, though -- will have to go the extra mile this fiscal.
In reality, the export promotion bureau and all others concerned with export business take on themselves an added pressure this year because of the three-month delay in the announcement of the export policy. This should be borne in mind.
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