India the next economic superpower has just announced an increase in the countries exports by an enormous 15% for the 2010-2011 fiscal year.
This news is a welcome statement to Indian firms wanting to export goods to other countries, as since October 2008, India's exports have been on a declining route due to the global economic recession.
In May 2009, India's merchandise exports saw a mammoth decline of 38.9%. However, the good news is that the country has made steps on arresting the downturn, and in October 2009 it stated that the decline had been reduced to just about 6.6%.
The country's positive steps to improvement might see India considerably growing its exports next year and might finally make a massive impression on the global economy.
For Asian countries such as Japan, China, and India, we want to export more products to foreign countries to make profits. India has been growing really fast in a past decade and 15% increase in export will help them to boost their economy earlier than other countries in the world.
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