Steps to arrest decline in exports should be taken, Exports body FIEO says

While expressing concern on sharp decline in India's export for May 2015, FIEO Southern Region Chairman, A Shaktivel said that continuous decline in export need to be arrested at any cost.

In a statement, Shaktivel urged the Centre to take pro-active step and address the concerns of the Industry especially the issue of reintroduction of Interest Subvention Scheme and fine tuning of SFIS (serviced from India Scheme) benefits.

He also demanded that availability of fund under Market Development Assistance and MAI should be increased immediately to help MSME exporters to do vigorous marketing in potential and emerging markets, as more than 45 per cent of India's exports are from this segment.

Even though data on sectors which have shown negative trend in export was not available now, Shaktivel urged the Government to provide special focus for export growth of Textiles and Ready made Garments, Leather, Auto components, Pharmaceuticals and Chemicals so that the negative trend can be reversed in the coming months.