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Export sector witnesses positive growth in last 5 months
Feb '17
The export sector is on the path of revival as it witnessed a continuous positive growth for the last five months of the current financial year. The positive growth has come after two years of negative growth due to various measures adopted by the Indian government such as the interest equalisation scheme for 5 years and special textile package.

After low growth during 2016, the world trade is likely to rise in 2017 and 2018, more so for the emerging markets, said A Sakthivel, regional chairman, Federation of Indian Exporters Organisation (FIEO) southern region. Prices of products are reducing globally and it is becoming a challenge for the manufacturing sector of India, especially for the labour-intensive sectors, said media reports quoting Sakthivel.

He also urged the commerce ministry of the country to provide more facilities to exporters, while carrying out the midterm review of the Foreign Trade Policy.

The availability of raw materials and skilled labour force in India makes the country capable of competing in labour-intensive sectors such as garments and textiles, according to him.

Sakthivel also said that there's a need to diversify products to achieve higher export growth and that there is an emerging demand for technical textiles. FIEO has been talking with agencies to establish technical textile clusters in Tamil Nadu in areas where common facilities like R&D can be provided to startups, he added. (KD)

Fibre2Fashion News Desk – India

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