India’s export is picking up. During the month of October 2023, exports have grown almost 10% to USD 62.26 billion.
Federation of Indian Export Organisations (FIEO) President, Dr. A Sakthivel said that the export sector is on the road to recovery due to its resilience. “Demand is still an issue in many markets due to high inventory and growth reflects that we may be eating into the share of some other countries” he said.
The sectors that showed positive growth in October include engineering goods, drugs & pharmaceuticals, electronic goods, iron ore, ceramic products & glassware, processed items, marine products, meat, dairy & poultry products, cotton yarn/fabs, handloom products etc, man-made yarn/fabs./made-ups etc., carpet, handicrafts excl. handmade carpet, plastic & linoleum and jute mfg. including floor covering.
The Association feels that the increase in imports is a cause of concern, which should be looked into. FIEO President further reiterated that the need of the hour is to provide further support to the MSMEs through easy and low-cost of credit and marketing support.
