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Business EconomyPosted at: Mar 17 2025 7:57PM


FIEO calls for targeted initiative to boost exports

Hyderabad, Mar 17 (UNI) Federation of Indian Export Organisations (FIEO) President Ashwani Kumar on Monday called for a Targeted Initiative to Boost Exports amid a decline in merchandise exports
Merchandise exports in February 2025 fell by 11 percent year-on-year, totalling USD 36.91 billion compared to USD 41.41 billion in the same month last year.
In a statement, Kumar while referring to this decline, emphasized that the dip is primarily due to subdued global demand and ongoing challenges faced by key export sectors including the impact of the global tariff war.
However, at the same time, imports saw a more significant drop, falling to USD 50.96 billion from USD 60.92 billion in February 2024, a sharp 16 percent decrease, he said .
Kumar pointed out that this reduction in imports indicates a positive trend toward manufacturing and shift in domestic demand, suggesting that Indian consumers and industries are becoming more cautious about imported goods.
Consequently, the trade deficit in the goods sector narrowed significantly to USD 14.05 billion, compared to USD 19.51 billion in February 2024, he said that the reduction in the trade deficit is a promising sign of India’s trade sector beginning to rebalance.
While exports have faced challenges, particularly due to the global tariff war, the sharp decline in imports signals a reduction in demand for foreign goods, presenting opportunities for domestic industries to grow, he said.
He expressed optimism that the narrowing trade deficit—driven by the decline in imports—could serve as a strategic opportunity for India’s economic growth.
However, he stressed that a concerted effort is needed to revitalize export growth, particularly through targeted initiatives that enhance India’s competitiveness on the global stage.
Notably, cumulative merchandise and services exports during the April-February period of this fiscal year saw an encouraging rise of 6.24 percent, reaching USD 750.53 billion, up from USD 706.43 billion in the previous year, he said.
To capitalize on this, FIEO has urged the government to introduce targeted support aimed at boosting exports. This includes expanding the scope of the Production-Linked Incentive (PLI) scheme and improving access to competitive financing for exporters.
Kumar also highlighted the importance of resolving non-tariff barriers and enhancing market access, as well as strengthening India’s integration into global value chains to ensure sustained export growth.
The FIEO President also called for a focused approach to export diversification, urging the exploration of new markets and products, as well as the continuation of trade facilitation measures.
He advocated for the continuation of the Interest Equalisation Scheme, increased support for R&D, the creation of a globally recognized Indian shipping line, and the continuation of the RoDTEP Scheme for Advance Authorisation/EOU/SEZ units —all of which are essential to sustaining long-term growth in the export sector.
He emphasized that with the right strategic measures, India’s export sector can regain its momentum and contribute significantly to the nation’s economic growth in the months ahead.
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