SME Times News Bureau | 20 Jul, 2019
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
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.