For, in comparison to overall India’s exports, that saw dramatic fall, the State, has in fact, fended off global slump much better.
The country’s ambitious export target of US$200 billion for fiscal year 2008-09 remained unattainable falling short by about US$32 billion. The State’s marginal dip is indeed reflective of cost-cutting and other financial austerity measures undertaken by global majors across markets and geographies as they set about putting their house in order.
Likewise, Karnataka’s percentage share in all India exports also took a beating in keeping with global and domestic economic milieu and general trend in trade that has been witnessed in fiscal 2008-09 which saw the Centre coming up with stimulus packages to help India Inc and the economy turn corner.
The State’s total exports of Rs 1,30,255.37 crore clocked for the fiscal 2008-09 has dipped by 2 per cent as against previous fiscal 2007-08 year’s total exports of Rs 1,32,703.43 crore.
According to statistics exclusively accessed by Deccan Herald Karnataka’s Rs 1,30,255.37 crore export in fiscal 2008-09 as a percentage share of country’s total exports of Rs 10,51,477 crore was only 12.38 per cent as against previous fiscal’s 15.13 per cent. The country exports had registered 29 per cent growth as against fiscal 2007-08 figures of Rs 8,71,872.14 crore.
Karnataka’s share
The State’s share in all India’s exports in the previous fiscal years of 2006-07, 2005-06 and 2004.05 was 15.06 per cent, 14.54 per cent and 11.92 per cent respectively. While country’s total exports during the preceding three fiscal years was Rs 7,09,641.87 crore, Rs 5,46,466 crore and Rs 4,30,888 crore respectively. Karnataka’s exports during these years were Rs 1,07,375 crore, Rs 82,279.60 crore and Rs 62,638.56 crore respectively. That the State’s as also country’s major export basket is intrinsically linked to electronics and computer software is mirror in the fact that the State’s electronics & computer software exports registered a decline of 2 per cent in fiscal year 2008-09 at Rs 77,818 crore as against previous 200708 fiscal year’s exports of Rs 79,517.50 crore.
Basket of items
The State’s other product exports that includes a variety of items ranging from readymade garmets, coffee, silk, et al., logged a negative 1 per cent growth in fiscal year 2008-09 at Rs 52,437.37 crore as against previous fiscal 2007-08 year’s Rs 53,185.93 crore. According to export performance of Karnataka provisional figures provided readymade garments clocked a turnover of Rs 5,395 crore (Rs 4,125 crore previous) in fiscal year 2008-09; petroleum and petroleum products Rs 11,642 crore (previous Rs 11,232 crore); iron ore & minerals (including granites) Rs 7,274.77 crore (previous Rs 10,197 crore); coffee Rs 1,579.05 crore (previous 1,307.60 crore); gem & jewellery Rs 10,892.66 crore (previous 9,749 crore) respectively.
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