India has experienced negative growth in exports due to various factors like stagnation in EU countries, slowdown in China and fall in commodity and crude oil prices, Parliament was informed today.Some of the key reasons for negative export growth in the recent period include fall in global demand and commodity prices, impacting terms of trade for commodity exporters, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
Fall in crude oil prices has resulted in consequent decline in petroleum products’ prices as well as export realisations, which are major items of export for India, she said.
Government to promote exports.
“EU countries that account for nearly 16% of India’s export, are facing stagnation. China is also experiencing a slowdown. The recovery in the US has been moderate and uncertain in terms of sustainability,” she said.
She added there is also a general slowdown in the world GDP growth and hence in growth of world trade.