Exporters see 20% decline in business

The order book of the exporters has declined by 20%, the survey said.

This comes when the government is going to unveil the new foreign trade policy on April 1.

Exporters are facing severe slowdown in order books because of India’s weakening competitiveness in foreign markets and challenging business environment on the domestic front, according to a survey.

The order book of the exporters has declined by 20 per cent, said a survey by PHD Chamber of Commerce and Industry.

The survey comes when the government is going to unveil the new Foreign Trade Policy (FTP) on April 1 aimed at giving fillip to exports.

The survey was conducted among 133 exporters including small, medium and large enterprises during the month of February and March 2015. “A majority of the exporters (63 per cent) have reported a slowdown in their exports because of a dull business environment. Not only the volumes but also the momentum of exports has been lost, reported the exporters,” said the chamber.

It said that the exporters were of the view that the incentive structure should be straight forward, far reaching and hassle free to enhance export competitiveness in the international markets.

The survey said that despite the fact that there has been a recovery in the US market, exports have not been catching at the earlier fast pace. Falling for the straight third month, India’s exports declined by 15 per cent in February.