India's merchandise exports registered a marginal growth of 3.4 % in US$ terms in fiscal year 2008-09 over 2007-08. But for the somewhat normal growth in exports during the first half of the fiscal, the year would have ended with significant negative growth.

Shrinkage of global demand has affected all nations. Different product sectors have faced divergent challenges. Further, some economies have felt minimal impact in certain sectors while there has been deeper impact on these sectors in India.

The adverse impact has been more visible in sectors such as gems & jewellery, handicrafts, carpets, textile and clothing and allied products. The Union Textile Ministry estimates that Indian exports have contracted 30% in the fiscal ended March 2009.

About Germany
Germany covers 357,021 km2 (137,847 sq mi), consisting of 349,223 km2 (134,836 sq mi) of land and 7,798 km2 (3,011 sq mi) of water. It is the seventh largest country by area in Europe and the 63rd largest in the world. Germany shares borders with more European countries than any other country on the continent.

Its neighbours are Denmark in the north, Poland and the Czech Republic in the east, Austria and Switzerland in the south, France and Luxembourg in the south-west and Belgium and the Netherlands in the north-west. Germany has a number of large cities, the most populous being Berlin, Hamburg, Munich, Cologne, Frankfurt and Stuttgart. By far the largest conurbation is the Rhine-Ruhr region, including Düsseldorf (the capital of NRW) and the cities of Cologne, Essen, Dortmund, Duisburg, and Bochum.

Crude oil prices increased sharply in the month of March 2009. The WTI spot averaged US$38.99 per barrel, up 23% as compared to previous month. However, compared to a year ago, the prices were down 54%. The European Brent increased 7% averaging US$46.43 per barrel during the month. Far East Asian crude oil prices averaged US$46.26 per barrel. In Asia, naphtha prices averaged US$426 per ton, implying a decline of 1.2% over the month ago level.

Polyester Chain
Prices were started moving up from the last week of the month in Asian markets, but the monthly averages are lower than previous months. During the last week of March filament and staple prices jumped in China on back of high PX and PTA values. Short supply on the paraxylene market was pushing up downstream PTA prices to higher levels amidst strong demand from fiber makers.