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Green shoots of recovery in western markets and depreciation of the local currency helped Indian merchandise exporters post a 13.47 per cent rise in exports, according to the Engineering Export Promotion Council (EEPC).
The engineering exporters’ body further said the momentum can be sustained and improved by making Indian products more competitive in the global market, and asked the government to address the issues raised by exporters.
India's overseas shipments rose to $27.27 billion in October, while imports dropped 14.5 per cent, according to government data revealed on Monday.
In October last year, India’s merchandise exports stood at $24.03 billion. There is an authentic rebound, and that green shoots are visible in the western market. On the one hand, the rupee depreciation has helped exporters, but stubborn inflation has kept exerting pressure on the cost of manufacture, particularly for the small and medium sized exporters, said EEPC India Chairman Anupam Shah.
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