Saturday, September 19, 2020
Home Business PHD analysis predicts Indian exports may bounce back

PHD analysis predicts Indian exports may bounce back

NewsGram Staff Writer

New Delhi:  Despite a negative growth curve for nine months (December 2014- August 2015) India’s exports still have a ray of hope with the possibility of bouncing back in the coming months, revealed an analysis by PHD Chamber of Commerce and Industry on Saturday.

“The analysis based on recent interactions with various exporters reveal that order books of the exporters have started reviving and we can see the exports growth trajectory turning positive in the coming months,” said a PHD Research Bureau statement.

Indian exports registered negative growth in 68 of the top 100 export destinations ranging from 10 percent to 50 percent, said the statement.

All the top 10 export destinations of Indian exports posted negative growth: Saudi Arabia (minus 49.7 percent), Singapore (minus 30.70 percent), China (minus 20 percent), Bangladesh (minus 16.4 percent), Germany (minus 10.3 percent), Hong Kong (minus 6.4 percent), UAE (minus 4.8 percent), Sri Lanka (minus 4.73 percent), Britain (minus 3.83 percent) and US (minus 3.82 percent).

However, 32 of the top 100 destinations – Australia, Canada, Norway, Bahrain, Iraq, Czech Republic, Chile, Ghana and Afghanistan among others – witnessed growth ranging between two percent to 50 percent.

According to the statement, exports constituting labor intensive products demonstrated positive growth. These included handicrafts (18.6 per cent), jute (18.17 per cent), ceramic products (9.84 per cent), carpets (6.3 per cent), tea (5.3 per cent), readymade garments (5 per cent) and spices (0.64 percent).

Products with negative growth were iron ore (minus 76 per cent), petroleum products (minus 49.5 per cent), oil meals (minus 35.3 per cent), oil seeds (minus 23 per cent), marine products (minus 17.4 per cent), rice (minus 16.5 per cent) and meat, dairy and poultry products (minus 16 per cent).

The analysis urged the government to focus on encouraging exporters to venture into new countries, launching information portals for providing comprehensive information about export opportunities in various markets.

Starting a mobile app for foreign trade, enhancing fiscal incentives and port facilities were some other measures suggest by the business chamber.

(With inputs from IANS)

STAY CONNECTED

19,152FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Neglected Children More Likely To Have Teen Pregnancy: Study

Researchers have found that children who experience neglect are seven times more likely than other abuse victims to have a teen pregnancy. The study, published...

Sakharam Binder: Play That Explores Idea Of Censorship

Back in the early 1970s, Marathi playwright Vijay Tendulkar's play 'Sakharam Binder' -- which features the character of a bookbinder who 'takes in' women...

Patients With Covid-19 Likely To Diagnose With A Heart Stroke

Researchers have found that Covid-19 may be diagnosed on the same emergency scans intended to diagnose stroke. The findings published in the American Journal of...

Asian-Americans Experience Increased Racism Since Covid-19: Report

A report released by a US civil rights group showed Asian-Americans have experienced increased racism since the Covid-19 pandemic hit the country more than...

Hair Tips By Actress Kajol

Actress Kajol has often sported bouncy curls, and it is not too difficult to have hair like hers, she assures. Sharing a candid photo taken...

Twitter Halts Transparency Web Series Promotion. Is Twitter Biased?

By NewsGram Desk Twitter, a well-known platform to share ideas, thoughts, spread awareness, advertise our new ideas and projects, is suddenly taking down advertisements and...

Traditional Matchmaking Holds a Lot of Prejudiced, Preconceived Notions: Physician Rupam Kaur

By Siddhi Jain For Rupam Kaur, an Indian-American physician, the pursuit of finding love a second time took more than the traditional formula of meeting...

10 Facts on How Mosquitoes are One of the Deadliest Creatures in the World

A warmer climate, travel and trade are helping to spread mosquito-borne diseases as a deadly beast smaller than a paper clip poses a threat...

Recent Comments

Donate to NewsGram to support quality journalism.
x