India’s exports may touch USD 330-340 bn this fiscal: FIEO
Team Udayavani, Dec 30, 2019, 4:43 PM IST
New Delhi: The country’s exports are expected to touch USD 330-340 billion during the ongoing fiscal on account of the uncertain global situation and rising protectionism, exporters body FIEO said on Monday.
During April-November, 2019-20, exports dipped by about 2 percent to USD 212 billion. Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said the global situation is becoming extremely challenging as rising protectionism is leading to uncertainty in global trade which will have an adverse impact on it.
He said despite having a moderate share in global trade, India’s exports have always followed the trend in global imports.
“Therefore, when global imports are declining, our exports are also likely to take a hit. Currently, exports during April-November 2019 are down by about 1.99 percent. Therefore, we feel our goods exports may touch USD 330-340 billion in the current fiscal,” Saraf said in a statement.
The FIEO president added that the infrastructure improvement and initiatives on the logistics front will further improve the competitiveness of exports.
“If the global situation improves, which is likely in the first half of 2020, we may look for 15 percent growth in exports during the next financial year,” Saraf said.
However, he said exports have to be aligned with changing import patterns of the global economy.
About 50 percent of the global imports are accounted for by electrical and electronics products, automobiles, machinery, petroleum products, and plastic products.
“Unfortunately, the share of such products in our exports is less than 33 percent despite having petroleum products accounting for roughly half of it. Our global share in such products is much less than 1 percent,” he said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Gurugram: 21 cybercriminals arrested for duping Rs 125 cr in fraud cases across country
Delhi HC denies anticipatory bail to Puja Khedkar in UPSC cheating case
Newly recruited Meitei, Kuki personnel in Manipur police to be posted together: CM Biren Singh
Today’s Cong is ‘duplicate Congress’ led by ‘fake Gandhis’, claims Union Minister Pralhad Joshi
Ahead of Delhi polls, Kejriwal helps women, elderly register for welfare schemes
MUST WATCH
Latest Additions
Vinod Kambli admitted to hospital due to deterioration in health
Shami not fully fit yet, ruled out of remaining two Tests in Australia
Gurugram: 21 cybercriminals arrested for duping Rs 125 cr in fraud cases across country
Rafi@100: When Amitabh Bachchan paid tribute to Mohammed Rafi in 1990 movie ‘Kroadh’
Delhi HC denies anticipatory bail to Puja Khedkar in UPSC cheating case
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.