Exports of top 5 sectors dip 25% in August

New Delhi, October 2

Exports of top five sectors —engineering, petroleum, gems and jewellery, textiles and pharmaceuticals — fell by around 25% to $13.33 billion in August due to slowdown in global demand.

These five sectors accounted for around 65% of the country's total merchandise exports in 2014-15.

In August last year, exports of these sectors stood at $17.79 billion.

While engineering, petroleum and textiles recorded negative growth, gems and jewellery and pharmaceuticals registered a marginal growth of 2.66% and 6%, respectively, during the month under review, according to the provisional data of the Commerce Ministry.

In 2014-15, exports of these segments stood at $202.15 billion. The country's total exports were aggregated at $310.5 billion in the last financial year.

Federation of Indian Export Organisations (FIEO) said these are labour-intensive sectors and government should announce steps to contain the dip in outbound shipments.

Decline in exports has been instrumental in dragging down India's overall merchandise exports. PTI