India Credit Guarantee Corporation Warned Textile Exporters To Proceed Cautiously

　　 bombay V.Viswanathan, general manager of export credit Guarantee Corporation (ECGC), said that the collapse of the global economy has affected every sector of international trade. Textile exporters should proceed cautiously to avoid falling into the trap of comprehensive market. In recent three years, the trap of comprehensive market has been a fatal blow to even famous banks and commercial institutions.

　　 Last Friday, ECGC To host a seminar, Mr.Viswanathan said at the seminar that foreign trade accounted for 45% of India's commercial spanactions, 17% of imports and 28% of exports.

The global economic crisis in September 2008 has seriously affected India's international trade and exports have shrunk. Since October 2009, the situation has improved. In 2009-10 years, exports reached US $176 billion, a decrease of 5% over last year.

In the current fiscal year, exports increased by 29% over the same period last year as of August. The reason is the target market. Economic recovery 。 The value of exports in currency terms reached US $85 billion 270 million.

However, the UK, US and European markets continue to pose challenges to India's exports, and their economies have yet to show marked recovery. Arabia, the United Arab Emirates, Greece, Spain, Turkey and Italy all have huge trade deficits, making trade with them worrying.

Not only is the United States having a debt paying and insolvency phenomenon, Britain, Europe and West Asia have become more problems. Exporters must constantly observe the situation in these countries. Many famous banks and industrial enterprises in many countries are forced to withdraw from business because they can not afford to lose money. He added that many India exporters do not think it is possible to go bankrupt because they trade with internationally renowned buyers for a long time. But in fact, the average life expectancy in Europe and Japan is only 12.5 years.