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FIEO sees strong flow of exports from eastern India

25 Aug 2019

The Federation of Indian Export Organisations (FIEO) on Saturday said it is expecting a strong flow of exports from eastern India, especially in the iron and steel sector.


Gems and jewellery, iron and steel, petroleum and marine products occupied some of the top segments with regards to exports from West Bengal, said a statement from the exporters' body.


"We are continuing to endeavour to seek fresh contacts with newer and upcoming markets with import demand so that it can boost export prospects of our members and others to add to the country's foreign exchange", FIEO Eastern Region Chairman Sushil Patwari said.


In the Indian economy, the exports contribute substantially to the country's GDP, he said.


India's GDP in 2018-19 stood at USD 2.7 trillion and during the year, the country's export of goods touched an all time high of USD 331 billion and USD 204 billion in services, the statement said.


On an average, the exports contributed about 20 per cent to India's GDP for the financial year 2018-19, it said

Source: The Economic Times

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