Growth in exports, mark of economic strength: FIEO
On the ongoing double digit month-on-month export growth, Federation Of Indian Export Organisations (FIEO) Regional Chairman Dr A Sakthivel said the growth during last month of 19.77 pc shows our manufacturing sector is competitive and can face hurdles like non-tariff barriers and market restrictions by developed nations.
By : migrator
Update: 2017-05-17 02:37 GMT
Chennai
This export growth is in the context of Rupee become stronger and major markets still not showing expected growth.
Commenting on export data released for the month of April 2017, Dr Sakthivel said that excluding petroleum and gems and jewellery. Export growth is poised to the tune of $17.72 billion as against $15.14 billion for April 2016 which shows an increase of 17.06 per cent which is highly encouraging.
“Our export to major market shows excellent performance – with outflow to USA at 4.74 pc, EU at 0.16 pc, Japan at 13.3 pc. This need to be maintained.”
However, he expressed his concern over negative growth in India’s export to China which is the third largest market for India after EU and US. During April 2017, India’¬s export shown negative growth of 1.56 per cent. Dr Sakthivel also urged exporters to give more focus on exporting to Latin America, Africa and CIS Region for continuation of double digit growth. He also appealed to the Centre to consider suggestions put forward by FIEO related to GST exemptions to exporters instead of refund mechanised proposed in the Draft.
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