Federation of Indian Export Organisations (FIEO) has suggested the sharp decline in exports from SME oriented labour intensive sectors as “disturbing”. The sectors which of late saw steep fall in its exports have been leather, readymade garments, gems & j
Federation of Indian Export Organisations (FIEO) has suggested the sharp decline in exports from SME oriented labour intensive sectors as “disturbing”. The sectors which of late saw steep fall in its exports have been leather, readymade garments, gems & jewellery etc. The recent figures records the fall for the month of April 2012.
"Sluggish growth registered by the export sector in April is a cause of concern. The more disturbing news is sharp decline or moderate growth in exports of labour intensive sectors like gems and jewellery, readymade garments, leather, electronics, plastics etc;" said M Rafeeque Ahmed, President, FIEO in a press statement.
The gems & jewellery sector witnessed the fall with the highest figure of 25.7 per cent shrinkage in overseas shipment, followed by readymade garments that recorded 9 per cent in the same month. The exports from leather sector also observed a sluggish growth of just 3.2 per cent, while electronics and plastic sector had only 5.4per cent and 2.7per cent growth, respectively.
"This will have serious implications on employment and may lead to sharp reduction in additional job creation and even lay off," Ahmed added.
The FIEO chief also asked government for export benefits to continue with increased entitlement and to re-introduce interest subvention scheme for exports.
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