Fall in exports becoming a trend line and it is really worrying: EEPC India

KOLKATA: Over 20 per cent decline in exports in May, on the back of a significant drop in April as well is something to be really worried about, said Anupam Shah, Chairman of the EEPC India, apex body of engineering exporters.

Mr Shah said what is even more discomforting is that sizeable fall in merchandise shipments is becoming a kind of a trend line this year.

This shows the global slowdown is really pinching Indian exporters who should be given, nothing short of a significant stimulus so that the country’s goods become competitive across the major markets of Europe, the US, South East Asia and Africa.

The stimulus can be in the form of interest subvention, technology upgradation fund and refund of local taxes, he said