The remarks assume significance as exports fell the 18th month in a row in May, though marginally by 0.79 per cent, to USD 22.17 billion as several non-oil sectors such as engineering and gems and jewellery saw a rise in outward shipments.
The fall in India’s exports have been arrested in May and now it is time to extend incentives to boost the overseas shipments, government said on Friday.
Although the pick up in exports may be slow but the bottoming out has happened, Commerce and Industry Minister Nirmala Sitharaman said. “I think from now, it will show slow but steady rise… Last month’s indicators show that it has now come down to 0.79 per cent, which is still a situation where we have to do a lot more to allow it to pick up.
“So it is a time when the help will have to be extended whether in the form of interest subvention or in the form of any kind of incentives for exports. We have been looking at sectorally,” she told reporters in New Delhi.