Q1 a washout, exporters pin hope on North America for a turnaround

After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards.

This comes even as other key destinations such as Europe may take longer to revive in FY24.

Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
 

Exporters said that inflation has been a major cause for concern for most developed economies. This has also affected their appetite to import.

Orders were also put on hold due to piling up of inventory, although buying is expected