Exports unlocking fast; June numbers to do catching up

Pic courtesy: JNPT

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As the world markets get desperate to re-open, India’s exports too should get back to the normal levels . Commerce  and Industry Minister Piyush Goyal hoped so, in a meeting with the  incoming Chairman  of the EEPC India Mahesh K Desai , stating shipments in June 2020 would return to almost 88 per cent of the level of the corresponding month of the previous financial year.   

Desai, a first generation technocrat-entrepreneur and founder of the Hyderabad-based Meera Group of engineering firms, has taken over as the new Chairman of the EEPC India , the apex organisation of the country’s engineering exporters. 
 Goyal said that  with the unlocking of the economy, the   exports should come back on track and the trend would be reflected in  the June numbers. Exports in May,2020 had dropped by over 36 per cent to USD 19 billion from USD 30 billion in the same month in 2019. April,2020   numbers were even lower with negative growth of about 60 per cent as almost entire world had gone in for lockdown following outbreak of Covid-19 pandemic.    
The new EEPC India Chairman assured the Commerce and Industry Minister that the engineering industry is committed to supporting the Prime Minister Narendra Modi’s call for AatmaNirbhar Bharat . ” We are encouraging our members to increasingly use the indigeous raw material and the intermediate products,” Desai said. 
 The Minister exhorted the exporters to be more competitive and play on their comparative strength. Desai, who has been associated with multilateral organisations like the World Bank and UNDP in various capacities, said that in a global market , disrupted by the unprecedented health crisis, the Indian industry and exporters are adapting fast with new strategies, product differentiation and pricing, according to an EEPC India release.  
The  Minister was informed that  that some of the capital goods consignments from Taiwan  ,crucial for manufacturer-exporters, are being held by the Customs authorities.  
Issues like formal launch of the Nirvik scheme, need for export credit being available at Repo plus two percentage points were discussed in the meeting, the council said.  
” As the exporter country has reposed a great confidence in me , as the EEPC India Chairman,  even in the turbulent waters, I would try and navigate the country’s exporters to new success”,  a widely-traveled  Desai said in a statement.     
Hardcore engineer, Desai was associated with the the B.I.S (Bureau of Indian standards) as Convener of a sub-committee on standardization of hand pump operated by solar power, suitable for rural and tribal India and small communities. He represented India for two years in International Standard Organization, Canada .   He had worked on an R and D project with Lund University, Sweden and with S.K.A.T (Swiss technology development center) Switzerland.  Worked with World Bank and UNDP for Research Project in the field of rural water supply, for small community. 
      He was also associated with  projects under UNICEF, World Bank, Asian Development, African Development Bank, European Funds, Japanese Funds, Scandinavian Countries Funds. He worked in consortium projects with Mitsubishi International and other Japanese companies

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