India's export sector passes through difficult time; needs support from Govt: FIEO Regional Chairman

Bengaluru: In the wake of results of  India’s exports during December 2016, Dr. A Sakthivel, Federation of Indian Export Organization’s (FIEO) Southern Regional Chairman said, maintaining an uptrend for the fourth consecutive month, and the growth of  India’s merchandise exports by 5.72 percent to $ 23.885 billion in December 2016 from $ 22.593 billion in the same month of the previous year shows that Indian exports can grow further irrespective of global downward trend if more stimulus is being given to the exporters. He was speaking in the state capital on Saturday. 

Thanking the Union Commerce Minister for providing various stimulus packages announced by the centre which is helping the industry to revive, Dr. Sakhivel requested the Commerce Minister and Senior Department officials to travel to breadth and length of India and meet the exporters to find out real issues so that corrective actions and necessary supports can be given. This will also help the union government to take stock of the Policy measures already taken and incorporate effective policy measure in the mid- term review of Foreign Trade Policy which is due.

Referring to the present international trade scenario, Dr. Sakthivel said, “the coming years will be very tough for the exporters due to various protectionist measures started by the developing countries, dumping of Chines goods in the developing markets, higher standards being imposed as non-tariff barriers and others. FIEO Chief also urged the centre to speed up the FTA negotiation process with EU, Australia, Canada and others, so that Indian exporters do not loose their markets share to countries like Bangladesh, Vietnam and others.