April exports show a mere 0.64 per cent growth: President, FIEO

Reacting to the April 2019 trade data, Ganesh Kumar Gupta, President, FIEO, said, “The export data of US$26.07 billion with a growth of 0.64 per cent is not at all encouraging as almost all the labour-intensive sectors including leather and leather products, gems and jewellery, engineering goods, cotton yarns, man-made yarns, carpets, marine products, few plantations and various other sectors of exports dominated by MSMEs are into negative territory. These sectors are still facing the problem of liquidity besides various other challenges including global trade war, protectionism, fragile global conditions and constraints on the domestic front.” He said that there may be front loading of exports in the past as exporters were apprehensive of withdrawal of GSP in US and development in Iran.

Only 14 out of 30 major product groups were in positive territory during April 2019 including petroleum, organic & inorganic chemicals, drugs & pharma, RMG of all textiles, electronic goods, ceramic products & glassware, handicrafts, commodities besides some plantation, agri and dairy products have shown growth during the month.