FIEO expects 4% growth in exports in FY 17; sees liquidity as key challege under new GST regime

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Kolkata | Updated: Apr 05, 2017 6:28 PM

Merchandise exports are likely to touch $ 315 billion and services exports to about $ 185 billion in FY 2017-18, according to Federation of Indian Export Organisation (FIEO).

The Federation expects to end the fiscal 2016-17 with an export of about $ 270-275 billion against $ 262 billion in the previous year. (Reuters)

Merchandise exports are likely to touch $ 315 billion and services exports to about $ 185 billion in FY 2017-18, according to Federation of Indian Export Organisation (FIEO). The Federation expects to end the fiscal 2016-17 with an export of about $ 270-275 billion against $ 262 billion in the previous year. This will register a growth of around 4% for the year in the merchandise sector whereas in services sector FIEO is expecting an export of $ 160 billion in 2016-17.

“We had already touched the $ 300 billion merchandise exports in the past. We should look at increasing our exports more aggresively with previous 6 months specially the February exports showing an impressive double digit growth of around 17.5%, ” FIEO president GK Gupta said.

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He felt that in the new GST regime liquidity would be the key challenge for the exporters. In the upcoming mid-term review of the foreign trade policy, there was a need to relook at further diversifying the product basket focusing more on high-tech products where India’s share in global trade is very low. This would enable India to further compete in the international market, Gupta said.

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