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India's merchandise exports expected to grow in double digits in August: Commerce Secretary

By Religare
|

On account of improving demand in markets such as Africa and the Asean region, India's merchandise exports are expected to continue with double digit growth in August, said Commerce Secretary S R Rao when asked about exports growth in the month of August.

According to the media reports, in July, exports registered a growth rate of 11.64 per cent, the most in nearly two years. They soared to USD 25.83 billion. The August figures are expected this week.

 

In May and June, the overseas shipments were in the negative zone. When asked whether government is considering reducing export duty on iron ore, Rao said that the Commerce Ministry has floated a Cabinet note on the matter.

"A (draft) Cabinet note has already been floated because multiple ministries are involved in it," he said on the sidelines of an IIFT function.

On the issue of restricting imports of non-essential goods, Rao said the exercise is on to identify those products.

Dion Global Solutions Ltd.

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