SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 15 May, 2019  

FIEO.9.Thmb.jpg 'Falling exports from labour-intensive sectors a concern'

Exports.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
SME Times News Bureau

Exporters association Federation of Indian Export Organisations (FIEO) on Wednesday said the downward trend in labour-intensive sectors of exports not good for the economy.

Reacting to officially released foreign trade data for exports, FIEO President Ganesh Kumar Gupta said the export data of USD 26.07 billion with a growth of 0.64 percent is not at all encouraging as almost all the labour-intensive sectors.

Leather & leather products, gems & jewellery, engineering goods, cotton yarns/fabs/made-ups, man-made yarn/fabs/made-ups, carpets, marine products, few plantations and various other sector of exports dominated by MSMEs were into negative territory in April.

These sectors are still facing the problem of liquidity besides various other challenges including global trade war, protectionism, fragile global conditions and constraints on the domestic front, Gupta said.

The FIEO chief said that there may be front loading of exports in the past as exporters were apprehensive of withdrawal of GSP in US and development in Iran.

Only 14 out of 30 major product groups were in positive territory during April 2019 including petroleum, organic & inorganic chemicals, drugs & pharma, RMG of all textiles, electronic goods, ceramic products & glassware, handicrafts, commodities besides some plantation, agri and dairy products have shown positive growth during the month.

Gupta also expressed his concerns on the rising trade deficit primarily on account of swelling crude import bill with further northward movement of prices and ban on Iranian imports along with rising gold import. 

He also opined that with rising trade tensions between US and China, the global trade scenario may further worsen, putting more pressure on Indian exports in months to come.

The uncertainty attached to it will affect the flow of investment and add to currency volatility, he added.

Gupta 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 exemption from IGST under Advance Authorization Scheme with retrospective effect should be seriously looked into.

Besides these, budgetary support for marketing and exports related infrastructure are some of the other key issues, which needs immediate attention of the government, he added.

 
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
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter