The country’s foreign trade scenario at the end of the final year of the Eleventh Five-Year Plan (2007-12) appears to be well on course, though the wholesome high export growth the country compassed in the first half of the fiscal 20011-12 may not be repeated for the full year. This is because since October, 2011 the pace of double-digit heady export growth has perceptibly slowed down, due to multiple reasons, the most important of which remain the halting recovery in the case of the United States and no growth in the crisis-laden Euro zone since both of them still account for substantial chunk of the country’s exports. Before a detailed analysis of the country’s foreign trade picture is made, it would be appropriate to trace the performance of the export sector particularly in the aftermath of the global financial meltdown in 2008. In fact when every country in the world was hit by one way or percentanother of this world crisis, Indian authorities converted the challenge of the crisis into an opportunity to wean itself away from traditional markets and traditional products to experiment with the boldest policy initiative that it put in place in the five-year Foreign Trade Policy (FTP) for 2009-14.