ReturnIndian textile traders appear to be undervaluing their exports to the US as per official trade data of the two countries.
The trade data compiled by India's Directorate of Commercial Intelligence and Statistics shows that the country's textiles exports to the US during the first quarter of this year - in the post quote regime - rose 1.33 percent.
But the comparative trade data of the US shows that textile imports from India were up 8.24 percent during January-March, 2004, over the like period of the previous year. "Certain exporters have expressed that there is an underestimation of export figures given in the Directorate of Commercial Intelligence and Statistics," Minister of State for Commerce E.V.K.S. Elangovan told parliament on August 2.
Meanwhile, the minister said India was exporting merchandise goods to as many as 200 countries and the value of such exports had increased from $52.72 billion in 2002-03 to $63.84 billion and $79.25 billion, respectively, in the next two years. The export basket, he said, included a variety of items, notably engineering goods, gems and jewellery, chemicals, textiles.
