The lacklustre show of exports for almost past two years is no deterrent for the government, which is confident that it will see a "positive and solid difference" in 2017.
"I look at the new year which is going to definitely see positive and solid difference in exports compared to the previous years when we have been really very slow. I hope newer market should emerge," Commerce and Industry Minister Nirmala Sitharaman told. The minister's optimism came against the backdrop of a positive growth recorded by the exports in the last three months.
Since December 2014, exports fell for 18 straight months till May 2016 due to subdued global demand and slide in oil prices. Shipments started witnessing growth only in June this year, but again entered the negative zone in July and August. In September, October and November, it registered growth though. According to the commerce ministry's latest data, exports in November grew 2.29 percent to USD 20 billion.
Exporters, too, expressed optimism for shipments in the New Year. Federation of Indian Export Organisations (FIEO) said that out of the 30 key product groups, close to 20 are exhibiting positive trends in the past couple of months.
This story is from the January 15, 2017 edition of Business Sphere.
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This story is from the January 15, 2017 edition of Business Sphere.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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