SME Times is powered by   
Search News
Just in:   • Slowing economy needs a boost  • US envoy to discuss Venezuela with Russian officials  • 67.82 lakh farmers miss PM-KISAN scheme benefits  • Strong rupee to hit exports, fear exporters  • GST introduction increase the assessee base by 80 pc: FM 
Last updated: 15 Dec, 2018  

Exports.9.Thmb.jpg Low export figures due to base effect: FIEO

Exports.9.jpg
   Top Stories
» Strong rupee to hit exports, fear exporters
» GST introduction increase the assessee base by 80 pc: FM
» India regarded world over for its Vasudhaiva Kutumbakam philosophy: Naidu
» Frame Your Idea a big hit at Frames 2019
» Slow exports growth due to increasing protectionism: Gupta
SME Times News Bureau | 15 Dec, 2018

Marginal exports growth in November is due to high base effect, said exporters association FIEO on Monday.

FIEO President Ganesh Kumar Gupta said that the data shows that there is marginal growth in exports during the month on account of high base effect year-on-year basis, as exports grew by over 30 per cent in November, 2017. 

However exports during the month was again close to USD 27 billion with a growth of 0.80 per cent even when the global trade is showing signs of receding trend said FIEO Chief.

High growth was mainly witnessed in Petroleum sector with Organic & Inorganic Chemicals, Plastic & Linoleum, RMG of all textiles, Drugs & Pharmaceuticals and Electronic goods also showing signs of revival.

All major labour-intensive sectors of exports like Gems & Jewellery, Engineering, Leather & Leather products, Man-made yarns/fabs/made-ups, Handloom products, commodities including most Agri products are now in negative territory opined Gupta.

15 out of 30 major product groups, as against 22 out of 30 in the previous month, were still in positive territory during November, 2018.

However on the imports front, the growth in November, 2018 was on a lower side this time around showing a growth of just 4.31 percent, which is the lowest in recent times.

The declining trend of crude oil prices and appreciating Rupee may further provide some respite on this front reiterated Ganesh Kumar Gupta.

Gupta once again reiterated his demand for urgent and immediate support including augmenting the flow of credit and better fiscal support, including interest equalisation for merchant exporters. 

The FIEO President exuded confidence that despite increasing protectionism, exporters have managed to do well in the past and with the timely support of the government will now also be able to take exports to a higher trajectory.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 19 Mar, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» GST Council reduces GST rates on 18 handicrafts items(3)
» Starting an import export business: Basic guide for beginners(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter