India’s exports fell by 21 per cent in March due to uncertainty in economic revival
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New Delhi: Exporters on Wednesday painted a grim situation saying that it will be difficult to even achieve even $300 billion exports in 2015-16 due to tough market conditions. In fact exports in 2014-15 had contracted by 1.23 per cent to $310.53 billion. This comes at a time when the BJP-led NDA government in its Foreign Trade Policy (FTP) 2015-2020 has targeted to raise India’s share in world exports from 2 per cent to 3.5 per cent by 2020.
Federation of Indian Export Organisations (FIEO) director general and CEO Ajay Sahai said that the trend right now, looks difficult for exports to touch $300 billion. “If global situation improves and currency changes its movement, then it is a different matter. But at the moment, it does not look (that the exports will touch $ 300 billion),” said Mr Sahai.
In one of the biggest decline in last six years, India’s exports fell by 21 per cent in March due to uncertainty in economic revival in key exporting markets. This was the fourth straight month of decline in Indian exports.
“Exporters need oxygen to survive,” said FIEO President S.C. Ralhan. FIEO warned that if exports contraction also impacted the volume for a long time, then it will result in job losses. “If something does not happens from the side of government or exports does not pick up then there is going to be big job losses,” warned Mr Ralhan.
( Source : dc correspondent )
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