In an interview to CNBC-TV18, S Ravikumar, President-Business Development at Bajaj Auto and Ajay Sahai, Director General & CEO of the Federation of Indian Export Organizations (FIEO) spoke at length about exports.
The growth in exports has slowed down to 9 percent in January. This is the first dip to single-digit growth for the first time in three months. Is there worse to come.
In an interview to CNBC-TV18, S Ravikumar, President-Business Development at Bajaj Auto and Ajay Sahai, Director General & CEO of the Federation of Indian Export Organizations (FIEO) spoke at length about exports.
Sahai said that export growth has been coming down.
He further said that a modest growth seen in gems and jewellery and leather sector.
According to him, labour intensive sectors show negative growth and employment intensive sectors in exports are not doing well.
“I think the fundamental factor is that most of the labour intensive sectors are losing their competitiveness over a period of time and immediate factor definitely is the liquidity problem which has been caused by the goods and services tax (GST) refund,” he said.
He further mentioned that we have requested government to go for clearance on the debt side.
Only 30 percent of the fund has been refunded out of the re-imbursements submitted by exporters, he added.
Ravikumar of Bajaj Auto said that we have a fairly good standing in exports.
For entire discussion, watch accompanying video.
