Congress Leader Singhvi Wrong On Most Export Stats

 

 

"After 30 foreign visits and another four lined-up, all that Modi has achieved for the nation during his 18-month tenure is a whopping drop of 44.89 per cent in Indian exports, from 280 billion dollars in May 2014 to 154 billion dollars today," Congress spokesperson Abhishek Singhvi told reporters recently, taking a jibe at Prime Minister Narendra Modi.

"text-align: justify;">Most of the statistics provided by Singhvi are wrong, based on data from the commerce ministry.

 

Claim 1:

 

Exports declined from $280 billion in May, 2014 to $154 billion today, showing a whooping drop of 44.89%, Singhvi claimed.

 

Fact:

 

India’s exports in May 2014 totalled $28 billion. The comparative figure quoted for “today” is the cumulative total from April to October 2015. Thus, the comparative calculation does not match the claim.

 

India’s cumulative exports during April to October, 2014 totalled $190 billion as against $154 billion in April to October, 2015, a decline of 19%. Not 45% as claimed by the Congress.

 

India’s Total Exports, April 2014 to October 2015

India’s Total Exports, April 2014 to October 2015

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2014	Exports	Cumulative
April	26
May	28	54
June	26	80
July	28	108
August	27	135
September	29	164
October	26	190
November	26	216
December	25	241

2015	Exports	Cumulative
January	24	265
February	22	287
March	24	311
April	22
May	22	44
June	22	67
July	23	90
August	21	111
September	22	133
October	21	154

Source: Press Information Bureau: (2014: April, May, June, July, August, September, October, November, December; 2015: January, February, March, April, May, June, July, August, September, October); Figures in $ billion

 

Claim 2

 

Despite "all the hoopla" created by the Modi government around the 'Make In India' initiative, Indian exports have contracted for 11 straight months now, and plummeted by 17.6% to just 154.29 billion dollars in October.

 

Fact

 

The claim made here of a straight fall of 11 months does not seem to be true.

 

India’s exports during the past (December 2014 to October 2015) 11 months have seen fluctuations, and not a straight fall.

 

The previous high ($29 billion) was reported in September 2014 after which exports have read a constant decline.

 

Claim 3

 

Under the Congress-led UPA government, India's exports crossed the targeted $300 billion and stood at $315 billion in March 2013.

 

Fact

 

India’s exports in March 2013 (considering financial year 2012-13) stood at $300 billion and not $315 billion as claimed. Exports were reported at $314 billion in March 2014 (considering financial year 2013-14).

 

India's Exports Over Five Years
Year	Exports
2010-2011	250
2011-2012	306
2012-2013	300
2013-2014	314
2014-2015	310

Source: Ministry of Commerce; Figures in $ billion

 

Exports declined from $314 billion in 2013-14 to $310 billion in 2014-15, the past financial year.

 

Singhvi’s claim that Modi made 30 foreign visits is correct. The Prime Minister visited 28 countries, with two visits each to Nepal and the US.

 

Countries Visited By Modi Over 18 Months

Source: Ministry of External Affairs; Note: Data up to November 16, 2015. Click on the map to view a larger image.