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India’s exports to reach record-high figure in FY19: Commerce Secretary
Oct-23-2018

Commerce Secretary Anup Wadhwan has expressed hope that Indian exports will reach a record-high figure both in rupee and US dollar terms during the current financial year. He also informed that the government would address the anxieties such as easier availability of credit from banks and boosting schemes like the merchandise exports from India scheme, in the wake of the challenges in a global environment.

Wadhwan has stated that the export scenario in the region, especially in Tamil Nadu, was healthy, and lauded exporters for their performance despite protectionism and unilateralism. He noted that despite many challenges, including issues like protectionism adopted by some developed countries, the exporters have been doing well over the last two-and-a-half years. On the country signing a free trade agreement with the European Union, he said it is on the table and they will do their best to expedite pact.

Meanwhile, breaking the five months growth momentum, India’s exports fell by 2.15% in the month of September 2018 over the same period in the previous year, due to the base impact even though trade deficit narrowed to a five-month low. Trade deficit narrowed to $13.98 billion in September 2018 as against $17.39 billion in August 2018. However, the overall trade deficit for April- September 2018-19 widened to $94.32 billion as compared to $76.66 billion during April- September 2017-18. 

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