The country's exports, which posted a robust 30.9 per cent growth rate in the first half of fiscal, contracted by 12.1 per cent in October, for the first time in the last five years. The negative trend continued in November, when exports fell to $11.5 billion from $12.7 billion. The data for December are yet to be released.
"I can safely say that negative growth trends will continue in December and in the next couple of months. . . I hope we will end the fiscal with exports of about $175-180 billion," Sakthivel said.
FIEO on Monday had said there was no 'serious consideration' for exporters in the measures announced by the government last week.
Image: A cobbler makes leather shoes inside his workshop in Jammu. | Photograph: Amit Gupta/Reuters
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