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15
January 2019
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Exports (The Total Investment & Insurance Solutions)
Declining exports of traditional products
including leather, gems and jewellery, man-made yarn, and pharmaceuticals,
pulled down the overall growth of outward shipments from the country in
December to 0.34% at $27.9 billion.The
Total Investment & Insurance Solutions
A 2.4% contraction in imports to $41.01
billion brought down the trade deficit to $13.08 billion compared with $14.2
billion in the year ago period and $16.67 billion in November 2018. The major
commodity groups of export showing positive growth in December were petroleum
products (13.18%), organic & inorganic chemicals (5.5%) and electronic
goods (50.81%), commerce and industry ministry said in a statement on Tuesday
“India’s overall exports (Merchandise and
Services combined) in April-December 2018-19 are estimated to be $396.73
billion, exhibiting a positive growth of 13.79% over the same period last
year,” the ministry said. Gold imports declined 24.33% in the month at $2.5
billion.
“Virtually no growth in overall merchandise
exports and a sharp drop of more than 3% in engineering goods' overseas
shipments during December 2018 over the same month in the previous year, is a
matter of grave concerns, signalling the trade tensions and the global slowdown
have started biting the world trade,” said EEPC India Chairman, Ravi Sehgal,
calling for redrawing the country’s export strategy and reduce the cost of
shipments along with easing of procedures. The Total Investment & Insurance Solutions
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