EEPC India Chairman Mr Ravi Sehgal says Sharp Drop in April Exports No Surprise

Over 60 per cent drop in merchandise exports during April, 2020 are a no surprise, given a near halt in the global trade. While the trade, especially of essentials like food and medicine is partially opening across the international borders, it would be a long haul before normalcy returns in the wake of the world grappling with the Covid-19 pandemic.

Exporting units, especially in the engineering sectors, are largely MSMEs and face an existential crisis. While the MSME package would provide liquidity infusion, the units need straight forward fiscal support like waiving of electricity charges, water bills, and wage support for survival. Besides, all dues and refunds should be immediately released to enable exporters tide over this unprecedented crisis.

The call for self-reliance and taking locals to globals, given by Prime Minister Shri Narendra Modi, would need support to exporters, who need to be assured of essential raw material like steel at international prices.