Indian export sector failed to maintain with its past glory, reporting a 29 per cent decline in export during the month of June. The traditional export destinations, such as US and European countries, are still under pressure due to global financial crisis, with less interest for Indian goods.

Union Commerce Minister, Anand Sharma, while replying a question in the Upper House, said: "The economic crisis has had adverse impact on our exports that have been declining since October 2008." He said that the Indian export sector is dependent on other economies, and its revival will depend on the recovery of major economies.

Exports, in June, are likely to remain at about $11.73 billion, against $16.52 billion in the same period last year. However, the final picture will become clear on August 1, after the release of the final export figures for June.

Meanwhile, Union Finance Minister, Pranab Mukherjee, in the Union budget, has announced various measures to revive demand in the recession-hit export sector, including extension of interest subsidy on export loan and guarantee on export consignment till March 2010.

The central government has also increased the market development assistance allocations to Rs 124 crore in 2009-10, from Rs 50 crore in 2008-09, for the export sector.