Ralhan hails non oil exports moving into positive territory

Ludhiana/New Delhi, June 15, 2016: Commenting on the trade data for the month of May, Mr S C Ralhan, President, FIEO said that decline in exports have largely been arrested and non oil exports have turned positive after a long gap.
Mr Ralhan observed that exports are all set to take off from here onwards and we can look for double digit growth from October onwards which may pave the way for reaching USD 300 Billion in the current fiscal. He expressed satisfaction with increasing exports to China which will help in bridging rising trade deficit with China. India need to focus on China as country is moving to medium and high technology sector and services leaving the field wide open for India and other countries. FIEO Chief said that logistics cost needs to be brought down to impart competitiveness to exports and manufacturing.