(Deepshikha Gautam, Intern Journalist) New Delhi: There is good news for the economy on the export front in the country amid the Corona crisis. Exporters are getting 20 percent more orders for the upcoming October-November compared to the previous 5 months. According to exporters, the level of new orders is around the pre-Corona period and there is the full expectation of an increase in exports during the third quarter (October-December) of the current financial year 2020-21. According to exporters, employment sectors such as engineering products, readymade garments, leather products, and handicrafts are also seeing an increase in orders over the last 5 months.
In the first five months (April-August) of the current financial year, exports of goods declined by 26.65 percent over the same period of the previous financial year. The decline was 12.6 percent in August. Out of 30 major items, only 14 items registered positive growth in August month. Exports in the country are increasing steadily. Engineering Export Promotion Council (EEPC) CEO Suranjan Gupta said that according to orders for the next two months, the level of exports has reached around the pre-corona period. Engineering goods exports may start to grow in the third quarter. According to the Commerce Ministry data, in August, exports of engineering goods declined by 7.69 percent from August last year.
Garment exporter Ashok Rajani said that export orders have gone up by 20 percent compared to the last four-five months, but customers are not giving much time for delivery. Buyers are paying less than last year. Orders are coming out mainly from the US and Europe. Exporters are also feared to be stuck due to the situation in the global market. In August this year, garment exports fell by 14 percent compared to the same period last year.
Handicrafts exporter Rajkumar Malhotra said that the export market which was stalled due to Corona has gained momentum, but it is not yet known how much will increase in the third quarter.
Handicrafts exports declined by 5 percent in the month of August compared to August last year. Federation of Indian Export Organizations (FIEO) President Sharad Kumar Saraf said that there is certainly an increase in orders than before and there may be an increase in overall exports, but the government has to pay the GST refund of exporters and other incentives on time.
take care. Commerce and Industry Minister Piyush Goyal has already said that in the first 15 days of September this year, there is an increase of about 10 percent in exports as compared to the same period last year.
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