With exports showing signs of revival, Commerce Minister Nirmala Sitharaman has expressed hope that outbound shipments will see a steady growth in coming months and exceed last year’s figures.
During the April-October period of current fiscal, exports dipped by 0.17 per cent to $154.91 billion. In 2015-16, the shipments stood at $262.29 billion. “Many sectors are showing revival including petroleum based. So definitely, I can see a ray of hope that now it is going to be steady,” Sitharaman told. Exporters’ body FIEO has said that exports may touch over $280 billion this fiscal. Exports of engineering products rose by 13.86 per cent, gems and jewellery by 21.84 per cent, petroleum by 7.24 per cent and chemicals by 6.65 per cent during the month.