Comm Min calls meeting of export promotion councils amid negative growth

The commerce ministry has called a meeting of all export promotion councils on October 24, amid dip in outbound shipments, an official said.

Exports contracted for the consecutive second month in September.

The meeting will be chaired by commerce secretary Anup Wadhawan.

The councils will suggest ways to contain fall in exports.

India's exports remained in the negative zone for the second consecutive month in September, contracting by 6.57 per cent to USD 26 billion mainly on account of significant dip in shipments of petroleum, engineering, gems & jewellery and leather products.

Imports too declined by 13.85 per cent to USD 36.89 billion in September, narrowing the trade deficit to a seven-month low of USD 10.86 billion, according to the government data.

Out of the 30 key sectors, as many as 22 segments showed negative growth in exports in September.

Shipments of gems and jewellery, engineering goods, and petroleum products contracted by 5.56 per cent, 6.2 per cent and 18.6 per ..