Decline in exports growth worrying: PHD Chamber

Decline in exports growth worrying: PHD Chamber

Decline in exports growth worrying: PHD Chamber

No.PR-7
April 11, 2014
New Delhi

Decline in exports growth worrying: PHD Chamber

Decline in March exports growth at -3.15% is worrying and needs to be look after as demand conditions seems to be reviving in the advanced economies. Strengthening of the recovery from Great Recession in the advanced economies is encouraging and time is most opportune to scale up our exports towards these economies, said Mr. Sharad Jaipuria, President, PHD Chamber of Commerce and Industry in a press statement issued here today

At this juncture, government should facilitate exports and address various operational issues faced by exporters especially the SME exporters. Small firms find it difficult to monitor the international export markets and assess their strengths and weaknesses because either they are not familiar with national or international sources of information or do not find them cost effective, said Mr. Jaipuria.

Indian missions abroad can easily remedy this situation by providing better understanding of the structure of international markets and facilitating trade promotion by monitoring sectoral performance and identifying opportunities for product and market diversification, he added.

However, significant decline in trade deficit from US$190bn in April-March 2012-13 to US$138bn in April-March 2013-14 is inspiring and it would pave the way for consolidation of rupee in the appreciating trajectory. The significant decline in trade deficit is attributed to decline in imports growth scenario vis-à-vis curbs on gold imports, he said.

April – March 2013-14 exports grew by around 4% and imports growth declines by around 8%.
End.