Situation in global markets continue to remain difficult: EEPC India

KOLKATA: Expressing some relief at the turnaround of merchandise exports, EEPC India on Monday said the situation in the global markets continues to remain difficult and the July data cannot be taken as a trendline.

"We need to wait and watch whether this trend can be sustained. In fact, India needs to improve on the July figures since the backlog of negative growth in the first quarter has to be made up.

An all-out effort from active support of the government is needed to ensure that engineering exports , the largest component of the country's export basket, are brought back to robust growth, "EEPC India Chairman Mr Aman Chadha said.

He said, issues like treatment of priority sector lending to exports and procedural delays at the port and customs should be addressed while exporters search for new markets in Latin America and CIS countries. The overall April-July growth of exports of 1.72 per cent is quite sluggish and needs a push.