SME Times News Bureau | 03 Aug, 2021
Reacting to foreign trade data for July 2021-22, FIEO President A
Sakthivel, President, FIEO said that the sustained growth in exports of about
48 percent with USD 35.17 billion over FY’ 2020-21 and by 34 percent over FY’
2019-20 yet again demonstrated the strength and resilience of the exports
sector.
This is the highest-ever exports recorded at least in the previous 9
years as per the data readily available with FIEO. It also is a sign that
global trade is recovering fast, added Sakthivel.
The FIEO Chief reiterated that the global demand during this period has
also remained buoyant as the order booking positions of the exporters have
still been impressive.
Sakthivel complimented the government under the able and dynamic leadership
of Prime Minister Narendra Modi and also the Union Finance Minister, Union
Commerce & Textiles Minister for showing confidence and trust on the
exporters during these difficult times, who have not only continuously
performed impressively but have also been able to showcase that the
government’s vision of Atma Nirbhar Bharat has given a boost to the sector.
The FIEO President said that the top sectors, which performed
impressively during the month compared to both July of 2020 and 2019 were
Petroleum, Engineering Goods, Gem & Jewellery and Organic & Inorganic
Chemicals.
Sakthivel emphasised that many labour-intensive sectors were the main
contributors, which itself is a good sign, further helping job creation in the
country.
The FIEO President is of the view that though the government has
announced a slew of measures to support exports, the need of the hour is to
soon notify the RoDTEP rates to remove uncertainty from the minds of the trade
and industry, besides addressing some of the key issues including priority
status to exports sector, release of the necessary funds for MEIS and clarity
on SEIS benefits, resolving risky exporters issues, augmenting the flow of
empty containers and establishing a regulatory authority to seek justification
of freight hike and imposition of various charges by the shipping lines.