India's Union Minister, Nirmala Sitharaman has said that the decline in the country’s exports has largely been arrested and its growth would be slow but steady in the coming months.
Giving a detailed picture of the country’s exports performance during the conclusion of the Regional Editors Conference, she said, “Exports between 2015-16 was $262.30 billion, but it registered a 15.5 per cent decline (compared to previous year). There is a continuous fall in exports of goods in various sectors and their performance.”
However, she said some sectors managed to withstand the decline and registered a “positive growth” inspite of the global trend.
“The sectors that managed to keep their exports intact are tea, tobacco, spices, fruits and vegetables, cereals, process items, ceramic products, jute manufacturing and ready-made garments,” she said.
Stating that the “fall” in exports has been arrested from June, due to various reasons, she said, “The interest subvention scheme and the performance-based incentives have boosted the confidence among exporters, who managed to shift exports to newer overseas markets like Africa and Latin America.”
“The export growth is going to be slow. But, it will be steady,” she added.
Source: financialexpress.com
