New Delhi, Oct 16 (KNN) Trade Promotion Council of India's (TPCI's) Chairman Mohit Singla has said that falling agri export is a matter of serious concern for major stakeholders. 

"Falling agri commodity exports are a matter of concern for major stakeholders. Knowing the fact of price competitiveness and sluggish demand there still remains other archaic challenges related to respective products," he said in a press release.

While speaking over the September trade data, Singla said, “There is a definite sign of manufacturing slowing down owing to the sluggish market demand, which has taken a hit at export. Out of the thirty major commodities 22 have registered negative growth. The Industrial production for the month of August was 1.1 % which is 81 month low. Additionally, the consumption and investment has both have been equally impacted.”

“Good news is amid the global slowdown especially in trade Indian electronic goods have registered whopping 33% growth as compared to the same period last year. This is a positive sign in terms of a higher proportion of technologically oriented export basket and is a continuous growth trajectory for the last two year,” he added.

He further said that in spite of the slowdown and growing trend of protectionism, the export of value-added products is on the continuous rise giving thrust added exports. This has been because of the government sustained efforts in this direction, leading to the birth of now sunrise sector.  Other products registering positive growth spices, ceramic and pharma.

''The import of petroleum products has fallen owing to the sluggish demand and due the plummeted prices in the month of September, impacting the overall trade. The exports as the percentage of GDP have also skunked for both oil and non-oil the sector, in 2018-19,'' he said.

He also said that there has been a flood in almost 13 states of India due erratic rainfall which also hit the logistics and supply of intermediary products used in the manufacturing process.

“The price of the gold price has been an all-time high in September  which emerged as an alternative saving option after the crash of bond and real estate market leading to the  is a massive reduction in imports to the tune of 51%,” he highlighted.

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