India is getting new orders from these countries

Jun 01 2020 11:37 AM
India is getting new orders from these countries

India's export sector has started coming out rapidly since the dismal period of epidemic corona infection. New orders of exports have started getting from America and Europe. The delivery of old pending orders has increased up to 50 percent. With the help of all these, the export area of the country has come out of the ventilator. The situation is expected to be more normal after June. Exports are expected to decline by 15-20% in May compared to April.

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In the month of April this year, there was a decline of 60 percent in the export of goods. More than half of the world's economy was in lockdown last March and April because of the Corona infection. According to garment exporters, markets have started opening up in Europe and America. Online sales have started. So orders have started coming from Europe and America. But this order is 25 percent more than in May last year. The same, says Noida-based garment exporter Lalit Thukral, only 2000 crore worth of garment was shipped from Noida and Greater Noida last month. European buyers are in a hurry and are asking to place an order in 20 days. According to Suranjan Gupta, CEO of Engineering Export Promotion Council (EEPC), the shipment of old orders of engineering goods has increased by 50 percent. New orders are also being received. Inquiries for new orders have also increased in other areas of export.

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Sharad Kumar Saraf, chairman of the Federation of Indian Export Organizations (FIEO), says that we expect May exports will do better than April. The level of decline can fall from 60 percent to 40 percent. According to the garment exporters, there is a lot of inquiries from abroad and new orders are being received for the purchase of masks these days. Demand for masks is coming from Spain of Europe to America and Africa countries. Thukral said that there is a possibility of exporting at least $ 1 billion of masks in the next three months.

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