May Exports Figure Impressive Amidst Geo-political Uncertainties and Logistics Disruptions, FIEO President Responds

[FIEO Press Release dated 15 June 2022]

Responding to the May 2022 Trade Data, FIEO President, Dr A Sakthivel said that the highest-ever exports of over USD 38.94 billion during May of a fiscal year, shows the continuous resilience of the exports sector amidst rising global uncertainties.

Imports growth is of little concern and may be looked into. However, he added that rising imports of gold may lead to impressive gems & jewellery exports in next 1-2 months with lead time.

FIEO President is also of the view that though the government has announced a slew of measures to support exports, however, there is a need to rationalise exports of raw materials to push value-added exports, augment container manufacturing, developing an Indian Shipping Line of global repute, increase the validity of RoSCTL and RoDTEP scrips to 24 months and link transferability with realisation, extend RoDTEP to EOUs, SEZ and Advance Authorisation, expand usages of RoDTEP and RoSCTL scrips and logistics support for the sector looking at the higher freight cost.