Exporters continue to face weak global demand: PHDCCI

New Delhi, Dec 13 (PTI) Exporters continue to face the heat of weak external demand even as the contraction in the country's outward shipments is narrowing, says a survey.
    
"A decisive 54 per cent of exporters still complain of weak external demand conditions which create an unfavourable environment for exports," the survey by PHDCCI has said.
    
According to the exporting units, the two most pressing problems relate to the lack of overseas demand and low prices charged by competitor countries.
    
The exporters find that their order books are in bad shape owing to slow revival of demand in markets like US, Europe and Middle East, PHDCCI said.
    
However, about 45 per cent exporters cited rise in orders compared to the last three months.
    
India's exports in October were valued at $3.19 billion against $4.13 billion in the year ago period. The downslide, that started in October 2008 due to the global slowdown, had touched 39 per cent in May. However, the pace of contraction has narrowed down with October exports falling by 6.6 per cent compared to that in the same month last year.
    
The survey further said many exporters felt that the new Foreign Trade Policy would not help them. Exporters find that many of their problems, related to high cost of export credit and un-rebated state taxes and duties, have not been addressed in the FTP, it said.