‘Pandemic likely to peak by mid-May’
Indian exporters are expecting a continuous growth in the country’s outbound shipments despite an increase in COVID-19 cases as their order books are encouraging and there is a pick up in demand in rich markets.
Federation of Indian Export Organisations (FIEO) President S.K. Saraf said that in most of the States, manufacturing and export- related services have been exempted from restrictions and inter-State movement of cargo is permitted by the central government.
“However, a pandemic of such magnitude does cause disruptions since various stakeholders are not operating with full manpower, including the industry.
“We expect the peak to come before mid-May and the situation should improve thereafter,” he said. “With such assumptions, we expect exports to continue on the growth trajectory as the order-booking position of exporters is very encouraging,” he added.
India’s exports in April jumped almost threefold to $30.2 billion even as trade deficit widened to $15.24 billion, according to the Commerce Ministry’s data.
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