Slump in global demand has impacted Indian exports as well. According to Commerce Ministry data, exports of top five sectors fell by about 31 per cent to 13.6 billion dollars in September. Petroleum exports were most affected falling by over 60%, engineering exports fell by 23%. Textiles, gems & jewellery also recorded negative growth during September. Only pharmaceuticals sector managed to registered a growth of 9 per cent. Contracting for the 10th month in a row, India's merchandise exports dipped 24 per cent in September to 21.84 billion dollars. In a recent meeting of Parliamentary Consultative Committee, Commerce Minister Nirmala Sitharaman highlighted the concern that China has been making efforts to stall India's exports through non-tariff barriers such as phytosanitary stipulations and standardisation issues. She has assured the committee that the government was fully geared up to meet the challenges through exports on account of slowdown in the global economy.
News On AIR | November 8, 2015 12:32 PM
Exports of top 5 sectors dip 31% in September