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Federal Commerce & Industry Minister Kamal Nath has called
for a Board of Trade meeting to discuss the alarming decline
in exports in November 2005. For the first time in two
years, Indian exports of gems, jewelry, and textiles
declined in November causing an overall decline of 11.38%.
This could also be a transition where textile companies are
focusing on quota countries thus yielding the non-quota
country market to China. Indian exports registered a 40%
growth in November 2004. A working group studied chemical,
pharmaceuticals, and textile sectors and advocated a slew of
measures to sustain export growth including export promotion
schemes, trade facilitation, assisting specific sectors, and
the creation of special economic zones (SEZs).
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