The Indian government set an export target of US$325 billion for the current financial year to March 2016 but recent reports suggest there will be a shortfall of around US$25 billion. October 2015 marked the 11th straight decline this is worse than during the recent global downturn.
In an effort to boost exports the Indian government will introduce an interest rate subsidy for exporters.
However, average monthly exports of wood products in the first five months of the current fiscal year are higher than the average for 2014-15.
|Exports||FY 2013-14||FY 2014-2015||2015-2016 (Apr-Aug)|
|Cork and cork products||2.21||2.03||0.91|
|Other wood articles||234.95||231.42||110.5|
|Plywood and other panels||24||29.18||10.02|
|Tea chest panels||0.01||0||0.01|