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TROUBLING DECLINE IN VARIOUS INDIAN EXPORT SECTORS RECORDED

NEW DELHI, Oct. 1, 2023 (PTI)

India’s labour-intensive export sectors such as apparels, marine products, plastics and gems & jewellery are showing a troubling pattern as the country is experiencing a decline in global market share across these segments during the last five years, a F.I.E.O. report has said.

Apex exporters body Federation of Indian Export Organisations (F.I.E.O.) also said that a note of caution is warranted regarding a distinct spike in export growth of roughly U.S.D. 40 billion as this particular surge is likely attributed to a rerouting of crude oil trade routes via India to Europe.

This phenomenon may not be sustainable in the coming years, it said.

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