ExportsInFocusManufacturing

Global Issues Influencing De-Growth of Indian Exports: FIEO President

Sharing is caring!

Reacting to the sliding merchandise exports growth during June, 2019, FIEO President, Sharad Kumar Saraf said that such a de-growth in exports is a reflection of sluggish global demand and rising tariff war.

The high exports base of June 2018 contributed in no less measure. The softening of crude and steel prices also pulled down exports.

FIEO Chief is of the view that due to US-China Trade war and developments in Iran further aggravated the problem of the world economy. The uncertainty attached to it will also affect the flow of investment and add to currency volatility.

Only 9 out of 30 major product groups were in positive territory during June 2019 including some plantation and agri sector, iron ore, ceramic products & glassware, drugs & pharma, electronic goods and jute manufacturing including floor covering.

Rest all major sector of exports including almost all labour-intensive sector exports besides petroleum for first time in recent times were in the negative with such a decelerating trend.

Saraf said that domestic issues including access to credit, cost of credit especially for merchant exporters, interest equalization support to all agri exports, benefits on sales to foreign tourists and quick refund of GST should be seriously looked into.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: