Export sector has not captured policy makers attention: EEPC

The export sector has not captured the kind of attention it deserves from policy makers, alleged apex engineering export body, after an alarming deterioration in exports at 19% of highly-job oriented engineering sector in April.

In April, merchandise exports declined 6.74% to $20.56 bn in April 2016. This is the 17th consecutive month of fall.

“With global risks mounting up, things have become even more difficult for the Indian exporters,” said Chairman of the Engineering Export Promotion Council, T S Bhasin. 

Bhasin said the global commodity markets continued to remain in troubled water and no demand pick up was in sight. 

“While the government has been taking incremental steps to help tide the situation, the export sector has not somehow captured the kind of  attention of the policy makers, which it deserves. Besides, the cost of raw material has gone up thanks to restrictive measures on crucial imports which go into the export products,” Bhasin said. 
In April, exports declined in most major categories including petroleum products, ready-made garments, engineering goods, cotton yarn, carpet, leather, rice and cashew. However, the fall in exports were in tandem with other economies of the globe. Exports for the United States, European Union, China and Japan have also fallen in the range of 0.04% to 25%.

India has a saving grace in gems & jewellery, tobacco, electronic products, chemicals and pharmaceuticals which posted an increase.