Exporters meet Piyush Goyal, flag concerns on demand from Western nations

According to preliminary data released by the commerce ministry on Tuesday, merchandise exports declined to a five-month low of $35.2 billion in July

Exporters and industry associations on Friday flagged a slew of concerns with the government. They include moderation in external demand as export orders from Western nations have been put on hold due to piled up inventory, people aware of the matter said.
 

In a meeting with commerce and industry minister Piyush Goyal, they called for some other fiscal or non-fiscal support to help exports, as exporters are not gaining much from depreciation of the domestic currency.

“Contrary to general perception, rupee depreciation is not providing much competitiveness as currencies of most other countries are depreciating more steeply.

Today, rupee is