New Delhi, July 16 (KNN) A de-growth in exports is a reflection of sluggish global demand and rising tariff war, said Federation of Indian Export Organization (FEIO).

Reacting to the sliding merchandise exports growth during June, 2019, FIEO President, Sharad Kumar Saraf, said the softening of crude and steel prices also pulled down exports.

He is of the view that the US-China Trade war and developments in Iran further aggravated the problem of the world economy. The uncertainty attached to it will also affect the flow of investment and add to currency volatility.

Only 9 out of 30 major product groups were in positive territory during June 2019 including some plantation and agriculture sector, iron ore, ceramic products & glassware, drugs & pharma, electronic goods and jute manufacturing including floor covering, he pointed.

Rest all major sector of exports including almost all labour-intensive sector exports besides petroleum for first time in recent times were in the negative with such a decelerating trend, Saraf mentioned.

He said that domestic issues including access to credit, cost of credit especially for merchant exporters, interest equalization support to all agriculture exports, benefits on sales to foreign tourists and quick refund of GST should be seriously looked into.