Hyderabad, April 14, 2018: Reacting to the trade data, Federation of Indian Export Organisation (FIEO) President, Ganesh Kumar Gupta said that the exports data for the financial year 2017-18 are encouraging.
However we at FIEO are really concerned and worried about the labour-intensive sectors such as gems & jewellery, RMG of all textiles, jute manufacturing including floor covering, carpets, agri products and many other sector of exports, dominated by MSME, which are into negative territory and are still facing the problem of liquidity as banks and lending agencies are tightening their norms, which does not augur well for exports for the new fiscal, Mr Gupta said in a statement here on Friday.
Mr Gupta also said that though the global scenario reflecting forecast for global trade by WTO in 2018 at 4.
4 percent and may moderate to 4 percent during 2019 shows encouraging scenario for global exports, however trade tensions may pose challenges for exports.
FIEO Chief also expressed his concern with the rising trade deficit, primarily on account of swelling of crude imports bill with northward movement of prices.
United News Of India
