New Delhi: Exports fall narrowed in August contracting by mere 0.30 per cent raising hopes that the downfall may be ending.
Exports were in negative zone between December 2014 and May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year thereafter again entered into negative zone in July.
“The decline in exports has largely been arrested and we can look for positive growth after a month or so helping us to reach around $ 280 billion of exports in 2016-17,” said Federation of Indian Export Organisations (FIEO), president S.C. Ralhan. He pointed out that 14 out of the 30 major commodities have reported positive growth in exports including engineering, drugs and pharmaceuticals, garments among others.
“These are high employment intensive sectors and their growth on sustainable basis will help in creating new job opportunities,” he said.
