Merchandise exports forecast for 2022-23
Federation of Indian Exports’ Organisation (FIEO) president Dr A Sakthivel said, “Although the pandemic is controlled, we expect the global consumption to go up substantially in 2022.
The good thing with our exports has been a balanced growth across sectors in traditional exports and sunrise exports during the current fiscal. We hope the same trend will continue particularly as the order booking position of all exporters is encouraging and China plus one policy of global companies is helping our exports. A trend of India’s exports during the current year shows that in the first seven months of the current fiscal, when the overall exports grew by about 59 per cent, almost all regions showed a growth rate of 60 per cent or more except for ASEAN, North East Asia and CIS countries. Therefore, in the New Year, we feel that exports growth will be widespread and exports to NAFTA, Europe, Middle-East, Oceania will continue to boom particularly as we should look at concluding Free Trade Agreements with UK & UAE soon and CEPA & CECA with Canada & Australia respectively in 2022.”