For Quick Alerts
For Daily Alerts

India's exports to Greece drop 15% due to financial crisis

By Religare

The Indian Government has said that the financial crisis in Greece has led to a 15.45 per cent drop in India's exports to the nation during the first quarter of this fiscal, media reported.

Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, "Total bilateral trade between both the countries during this period fell 8.33 per cent to USD 124.11 million. The Greek Debt crisis has impacted India's bilateral trade with Greece."


"No trickle-down effect of the crisis in India is anticipated at this stage; however, institutional mechanism is in place with Greece where steps can be discussed. The volume of software and engineering exports of India to Greece is not very large, hence there is negligible impact, however, there is not much impact on Eurozone," she added.

The Minister further added that exports to some Asian countries during the last three years had declined.

The sluggishness in export depends on several factors including economic scenario in the importing countries, world economic recession, currency fluctuation and fluctuation of oil/petroleum prices

Story first published: Thursday, August 6, 2015, 12:20 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more