Engineering exporters' Apex Body EEPC India recent said that there was a need to rethink and redraw its export strategy as the marginal growth in overall merchandise exports has become a matter of grave concern.
"Virtually no growth in overall merchandise exports and a sharp drop of more than three per cent in engineering goods' overseas shipments during December 2018 over the same month in 2017, is a matter of grave concern, signalling the trade tensions and the global slowdown have started biting the world trade," EEPC India Chairman Ravi Sehgal said.
He further said that the unfolding global situation comprises not only problems on account of trade tensions between China and the US but other issues like uncertainty over Brexit fall out in the European markets.
"The situation certainly calls for a major rethink and redrawing of our export strategy, amongst exporters, Government and the RBI as to how to plug the loose ends and reduce the cost of shipments along with easing of procedures," Sehgal added.
Source :- Dailyshippingtimes.com
