Exports drop 0.79% to $22.17 billion in May
The Dollar Business Bureau India’s exports dropped for the 18th straight month in May, marginally by just 0.79 percent to $22.17 billion. The rate of decline was the lowest from November 2014. Imports, too, contracted by 13.16 percent to $28.44 billion, thereby bringing down the country’s trade deficit to just $6.27 billion as against $10.4 billion in May last year. India’s imports were $32.75 billion in May 2015. “Decline in exports has largely been arrested and non-oil exports have turned positive after a long gap,” said S C Ralhan, President, FIEO. Ralhan expressed satisfaction over India’s exports to China and said India should continue to focus on its neighbour, as this will help in bridging trade deficit which is heavily tilted towards China. Exports have been ...
Export bodies seek govt attention to arrest falling exports
Deepak Kumar | The Dollar Business Expressing concerns over continuous fall in overseas shipments, export bodies have called for immediate intervention from the government to draw a roadmap to boost the international trade. On Monday, the Director General of Foreign Trade (DGFT) is likely to hold a meeting with exporters and discuss measures to revive the sector. “We have a meeting with the DGFT on Monday next week. We have been requesting the government for over two-three months to set up a meeting with all the council chairmen, who will discuss about the major hindrances before the industry,” S C Ralhan, President of the Federation of Indian Export Organisations (FIEO), told the Dollar Business. Ralhan said the government must look into some ...
