EXPORT GROWTH RATE DIPS TO 9.07% IN JANUARY.
According to the press, growth in exports reduced in January 2018 to 9.07 per cent, from 12.03 percent in December 2017. As per the data from Ministry of Commerce, with exports of $24.38 billion (€19.78 Bn), the growth rate in January 2018 dipped to a single digit, moreover, the rate in December 2017 more than halved to 12.4 per cent from 30.5 percent in November 2017. According to Federation of Indian Exports Organisations (FIEO), more than 6 per cent of the growth has been contributed by petroleum products, whereas, labour-intensive sectors like garments, carpets, handicrafts, and man-made textiles exhibited negative growth, primarily due to the implementation of the new goods and services tax regime. (ICE NEW DELHI)