Growth in exports encouraging particularly in view of lack lustre performance of major economies: Ralhan

Ludhiana, October 14, 2016: Rejoicing over the positive growth in exports in September, the second time in the calendar year, President FIEO said that this is a very encouraging development as China, South Korea and many other exporting countries exhibited double digit decline in exports. What is more assuring is the across sectors growth in exports as about 20 of the major 30 product groups turned positive in September. Mr Ralhan said that if this trend continues, we can achieve US$ 280 Bn or even more in exports in the current fiscal. Sectors such as Garments, Gems & Jewellery, chemicals, Engineering, Electronics , Marine and plantations have contributed to increasing exports.

The support given by the Government will be more visible in the exports figure in coming months as exporters have factored them in their prices to increase competitiveness said Mr Ralhan.

President FIEO said that government' s efforts in addressing logistics bottlenecks, transactions cost and overall infrastructure augur well for indian exports . However, he said that working capital problem in the refund process for exports in the proposed GST regime should be looked into.