Export figures for May portray yet another positive growth momentum: FIEO President

Srinagar, June 14:  Reacting to the May 2024 merchandise export numbers, FIEO President, Ashwani Kumar said that continuing with positive growth momentum for the second month in a row during FY 2024-25 on the back of buoyant order bookings goes to show the resilience of the exports sector and Indian exporting community.

"Goods exports of US$ 38.13 billion with an impressive growth of 9% compared to May 2023 is not only a good sign but also goes to show efforts and hard work, which the exporters are putting together. The ongoing Russia-Ukraine war coupled with various major geo-political tensions including the Red Sea crisis and Israel-Hamas conflict has also made the international trade scenario much tougher for the Indian exporters," said Kumar.

"We further expect exports to show better growth numbers with improved demand coming in from the European Union, UK, West Asia and the US, which has given a boost to the order bookings by over 10 % and has come as sign of recovery for labour-intensive sectors of exports."