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After 13-month recovery, exports fall 1.1% to $23 bn in October

by www.business-standard.com
Exports contracted 1.1 per cent in October year-on-year to $23.1 billion, the first fall in 14 months, as companies continued to struggle with issues related to the goods and services tax (GST). The decline was led by sharp falls in major labour-intensive sectors such as leather & leather products, gems & jewellery, handicrafts, readymade garments and carpets.Exporters had earlier warned that the double-digit growth in outbound shipment between July and September despite rollout of GST might not present a true picture, as there were advance orders. Exports had soared by 25.7 per cent to $28.6 billion in September, its highest growth in six months, with expansion in shipment of chemicals, petroleum and engineering products.Ironically, exports fell in a month when the GST Council addressed most of the complaints of exporters, though one important measure, e-wallets, would kick in only by the next financial year. Exporters grouse that the measures aren't being implemented at the
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