Friday, October 27, 2006

India’s export performance

Currently they are all petro-charged exports. With refining capacity expected to increase to over 30 mln tonnes in the next 2 to 3 years, exports could increase further. Asia and ASEAN account for over 50% of our exports while the share of Americas is down for the first time to less than 20%.

This commendable performance should make us rethink on sops to SEZs. Sufficient attention to infrastructure alone should ensure growth rates without any fiscal incentives.