NEW DELHI: Exports contracted for 13th month in a row in December 2015 as outward shipments shrank 14.75% to $22.2 billion amid a global demand slowdown
The country’s exports will range between $265-270 billion (Rs 17.9-18.3 lakh crore) in 2015-16, sharply lower than the $310.5 billion (Rs 21.05 lakh crore) achieved in the previous fiscal, exporters’ body Federation of Indian Export Organization (FIEO) said on Thursday.
“According to our assessment exports for the current fiscal will range between $265-270 billion. If this trend continues it may lead to job losses,” FIEO Director General Ajay Sahai said. Exports contracted for 13th month in a row in December 2015 as outward shipments shrank 14.75% to $22.2 billion amid a global demand slowdown.