E Amazings – Money management
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings – Money management
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings – Money management
You are at:Home»Business»MSME exporters facing demand squeeze in global markets
Business

MSME exporters facing demand squeeze in global markets

By August 11, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

MSME exporters are facing slowdown in demand in the global markets due to the ongoing war between Russia and Ukraine and they have sought immediate intervention of the government to deal with the situation, according to industry players.

They added that the dip in demand may impact the country’s exports in the coming months.

Ludhiana Hand Tools Association President S C Ralhan said the industry is passing through “acute recession” in both domestic and international markets.

“Most of the sectors including hand tools auto parts and spinning mills are working at 25-60 per cent capacity only. At the moment, we are getting very small orders,” he said in a statement.

Most of the exporters said they have orders for only one or two months.

“This scenario would impact exports growth,” Ralhan added.

Sharing similar views, Dalpat Forge (India) Manager Ashwani Aggarwal said the demand situation is “bad” in both domestic as well as global markets like the US and Europe.

“The government should support us to deal with the situation,” he said.

Leading leather sector exporter and Chairman of Farida Group Rafeeq Ahmed said though the factories currently are running at full capacity, the order book position is gradually “dwindling” for the season.

“There are demand issues mainly in the US due to high inflation there. We as exporters are planning how to deal with this slowdown,” Ahmed said.

Federation of Indian Export Organisations (FIEO) Vice Chairman Khalid Khan added that “order book position is bad”.

Exports dipped, though marginally, for the first time in 17 months in July, while trade deficit tripled to a record USD 31 billion fuelled by over 70 per cent rise in crude oil imports.

The outbound shipments during April-July 2022-23, however, stood at USD 156.41 billion, an increase of 19.35 per cent over USD 131.06 billion in the corresponding period last fiscal.

While the US is top market for domestic exporters, European nations including the Netherlands, Belgium, Germany, Italy and France are among the top 20 destinations.

The ongoing war between Russia and Ukraine has severely disrupted the global supply chains.

The MSME sector account for nearly 40 per cent of India’s exports.



[ad_2]

Source link

Related Posts

Air Duct Repair 101: Everything You Need To Know

By Corbin BowenFebruary 2, 2023

Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant

By January 5, 2023

LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer

By January 5, 2023

Foreign universities will need UGC’s nod to set up campuses in India

By January 5, 2023
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
  • LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.