“critical Analysis Of Export Of Gems And Jewellry And Readymade Garments During 2000-2009” ( Trends Problems And Prospects )

India was confronted with one of the worst crises in the post independence period when our foreign exchange reserve level fell to such an extent that we had only enough to meet two weeks import requirements. This situation led to a sharp deterioration in the country's balance of payment position. After a long and hard struggle, this position has changed drastically. Now, our foreign exchange reserves have gone upto around Rs.15,000 crores which are considered adequate enough to cover about six months import. If we examine the developments during last few years, we shall find several measures initiated by the Government of India, like Import compression, schemes to attract funds from overseas, advancement of financial system, development of advance marketing infrastructure, change in commercial and economic policies etc. Through these changes, our exports have not yet been pushed up to the desired level. The value of export in 1989-90 was 17.6 per cent which went up to 40.78 per cent in 1993-94. The total value of exports in 1991-92 was Rs.44,041 crores which went up to Rs.84,0755 crores in 2008-09. It is our great achievement in foreign trade and we achieved this target with the help of export, especially export of manufactured products readymade garments and gems and jewellery. If we look at the share of manufactured products in India's total export during planning period, we will find that this share in our total export earning has been constantly going up.