Government must go for sector analysis to study slowed exports: FIEO

New Delhi, July 18 (KNN) The recent export data by the Ministry showed a slowed trend in exports for the month of June, a sector analysis must be done to determine the cause for the decline in exports, Federation of Indian Export Organizations (FIEO) said recently.

The data for June suggests that over 50 per cent of the major product categories registered a negative growth. These include sectors such as leather, oil seeds, tobacco, pharmaceuticals, gems and jewellery.

President of FIEO, Ganesh Gupta in a press interview said that the decline in the export figures of the prominent sectors such as pharma and leather is not a good indicator. These sectors are important both in terms of exports as well as maintaining employment in the country. Therefore a study needs to be carried out for each sector to determine the causes for the decline.

The Exporters body further said that the government must take into account the various issues of the export industry relating to the newly rolled out Goods and Services tax (GST). Also the government must keep an eye on the imports under GST to ensure that the domestic manufacturers do not suffer from the rise in imports.

Earlier the government released the export data for June that showed a slowed export to 4.39 per cent. The figure for June this year stood at 23.56 billion dollars as compared to 22.57 billion dollars from June last year. (KNN/ DA)