Exports in Punjab have been growing more than 20 percent for more than two years corresponding to the country's overall export growth rate.
But the latest data from state-level bankers' committee (SLBC), Punjab and Reserve Bank of India, the export figure of Rs5,573 crore for the period April to September 2005 showed a growth of only 5.95 percent compared to the corresponding period last year.
As per RBI data, exports from the state up to December 2005 was Rs8,564 crore which is expected to be about Rs 12,000 crore at the end this fiscal year, recording a growth of only 12 per cent, compared to 27.35 percent and 20.10 percent increase in 2003-04 and 2004-05 respectively.
India's merchandised exports during April 2005 to September 2005, grew 17.27 percent compared to September 2004. It has grown from Rs1,63,329 crores to Rs1,91,548 crores for the above period. The total exports for 2004-05 were Rs35,6069 crores.
High-capacity freight corridor from Ludhiana to Somnagar in West Bengal to connect the state to eastern ports, setting up of SEZ in Amritsar, Mohali and Integrated Textile Park in Ludhiana and Amritsar are some of the steps undertaken by Government to increase exports, said I D Singh, Convener of SLBC Punjab.
Exports of sewing machines and leather goods have shown the maximum growth rate of about 54 percent and 30 per cent respectively over the corresponding half-year period in 2005.
Yarn and textiles have reached 6 percent from Rs1,356 crore to Rs1,449 crore in the half-year period in 2005 compared to same period last year, Singh said.
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