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Exports likely to improve in May, contraction expected to be 30-35%: Goyal

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

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India has a huge opportunity to promote indigenous production in auto component, furniture, air conditioners, and other sectors, he said. The government is already promoting electronics production and the manufacturing of Active Pharmaceutical Ingredients.

Subhayan Chakraborty New Delhi

3 min read Last Updated : May 29 2020 | 4:22 AM IST

Exports are likely to improve in May, with the contraction expected to be 30-35 per cent, said Commerce and Industry Minister Piyush Goyal on Thursday, after outbound shipments crashed by a record 60 per cent in April.

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

Exports had shrunk by a record 60.28 per cent in April and 34.5 per cent in March. The nationwide lockdown shut down manufacturing units for 20 days in April, but experts had pointed

Topics : Coronavirus Piyush Goyal Lockdown Indian exports Indian Economy export sector Confederation of Indian Industry Domestic industry Furniture Auto component air conditioners Nasscom tourism sector hospitality EXIM Bank IT Services industry IT export