Sample Page Title

Must read




Engineering Export Promotion Council of India has expressed concern that the spread of Omicron, the new variant of coronavirus, may once again disrupt the global supply chain, which could lead to a slowdown in trading activities.


Exports of engineering goods registered a 38 per cent year-on-year growth in December, 2021 to USD 38.4 billion.





The sustained growth momentum demonstrates the sector is well on track to grow its market share in the global trade, EEPC India chairman Mahesh Desai said in a statement on Friday.


“While the order pipeline has been remarkably good, we could see some slowdown if Omicron disrupts the global In the recent weeks, we have seen some signs of volatility and uncertainty due to the ongoing pandemic wave across the world but by putting suitable policy measures in place, the government could provide cushion to trade and business,” Desai said.


He called for urgent action on part of the government to reduce soaring raw material prices and logistics costs.


“We hope that in the upcoming budget, the government will take appropriate measures to reduce the cost of primary steel, copper, aluminium and other raw materials. This will be a major relief for the sector which is dominated by micro, small and medium enterprises,” he said.


Some policy push now would keep the industry ready to take challenges in future and set higher export targets next financial year, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Trendy Voice Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

close
Trendy Voice

Hi!
It’s nice to meet you.

Sign up to receive awesome content in your inbox, every week.

We don’t spam! Read our privacy policy for more info.

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article