Exports now recovering, fall has bottomed out

Exports now recovering, fall has bottomed out: Sitharaman

New Delhi, June 17 (IANS) The fall in India’s merchandise exports over a year and a half has at last been arrested as the May data shows, Commerce Minister Nirmala Sitharaman said on Friday.


“The fall in exports has now been arrested. Last month’s data indicates a fall of 0.7 per cent,” Sitharaman told reporters here.

“The bottoming out (of the fall) has happened. From now, it will be a slow recovery and a steady pick-up,” she said.

India’s merchandise exports declined for the 18th consecutive month in May at $22.17 billion, down 0.79 per cent in dollar terms, against $22.35 billion in the like month of last year, official data showed on Wednesday.

The country’s merchandise exports in April this year were valued at $20.57 billion — down 6.74 per cent in dollar terms against $22.05 billion in April 2015.

“Many labour intensive sectors have been holding out and are now picking up,” Sitharaman said.

“The process of export recovery requires to be aided, through interest subvention and other incentives,” the minister added.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here