India's export is growing sharply

After two consecutive years of growth, India’s exports contracted sharply to register a growth of 3.4 % in dollar terms in 2008-09. The decline was due to the global slowdown and the financial meltdown(RECESSION) in the second half of 2008 that hit overseas demand substantially. The Government announced export-friendly measures in two stimulus packages in Dec 2008 and Jan 2009, followed by one in the Interim Budget in February and another in the full-fledged Budget.Taking over as the Commerce Secretary in June, Dr Rahul Khullar, who worked in different capacities in the same Ministry before he became the Disinvestment Secretary for a brief period, spoke to Business Line about the various issues impinging on the export sector and the forthcoming 5 year Foreign Trade Policy at this critical juncture.