Indian exporters hard hit by the impact of Covid19 on global trade

Published On: Monday, March 16, 2020 | By: Team KnowMyStock

With major economies of the world slipping into a 'near-halt' due to pandemic Covid19, exporters in India find themselves in a state of turmoil as trade in the country's top destinations is paralysed, making it imperative for an urgent relief measures for the exporting industries. Engineering exports for April -January 2019-20 to the US aggregated to $9.87 billion, followed by UAE ($3.58 billion), Germany ($2.56 billion) and UK ($2.26 billion). Other major destinations are China ($1.85 billion ), Italy ($1.65 billion), Republic of Korea ($1.62 billion) and France ($1.13 billion). "All these markets are in a grip of crisis due to Covid19. It is more disturbing that there is no clue so far how long the global health emergency would last", said the EEPC India chairman, impressing upon the government for urgent relief to exporters.

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