The government on Monday helddiscussions with industry chambers and export promotion councils on ways to boost the country's shipments. Commerce and Industry Minister Anand Sharma reviewed the export scenario in New Delhi. Chambers and export promotion councils suggested the ways to boost exports. India's exports entered the negative zone after a gap of four months, recording a contraction of 1.1 per cent in May and leading to a trade deficit of 20.1 billion USD, highest in the last seven months.FICCI said that India's exports are facing several challenges which include fragile global economy, rise in protectionist tendencies and ballooning current account deficit.President of Federation of Indian Export Organisations (FIEO)Rafeeq Ahmed said the main reason for decline in exports is global demand slowdown.Besides FIEO and Ficci, representatives of apparel, handicrafts, engineering were present in the meeting.
News On AIR | July 2, 2013 9:52 AM
Commerce Min reviews export scenario; holds talks with industry chambers on boosting shipments