By TIOL News Service

NEW DELHI, APR 14, 2017: REACTING to the booming double digit export growth of well over 27% for the month of March, 2017 surpassing such growth achieved more than three year back, Mr G K Gupta, President, FIEO said that while continuous positive growth in exports for more than half a year is not only very enthusing and encouraging sign for the economy as a whole.

FIEO President further added that the growth across all major sectors in 25 out of 30 major product groups, have not only been positive in March but sectors specially Iron ore have continued to show an overwhelming growth. Other major sectors including engineering goods, gems & jewellery, drugs & pharmaceuticals, organic & inorganic chemicals, RMG of textiles, oil Meals, oil seeds, coffee, tea, rice, marine products, cashew, spices, handicrafts, meat, dairy & poultry products including carpet and man-made yarns & made-ups have also shown impressive growth contributing in a major way to the growth in exports during the month with most of them showing higher double digit growth for the first time in recent months. Mr Gupta said that Petroleum exports which has a major contribution in the exports basket has contributed to the robust growth with more than booming growth of over 69 percent.

FIEO President said that the increasing imports is primarily on account of high imports of gold, pearls, precious and semi-precious stones which augurs well for gems & jewellery exports in months to come. The high imports of petroleum is also reflected in higher exports of petro products.