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While the RBI has made a correct assessment of the global trade slowing down further due to waning demand and commodity price crash, it has not suggested or spelt out any specific measures to help Indian exporters who are facing tough times with exports declining for 11th month in a row, said Chairman of the EEPC India TS Bhasin.
He said at a time when the key markets of the US, Europe and emerging economies are showing consumer resistance, some out-of-the-box solutions are needed to help the exports, particularly in the engineering goods which are produced pre-dominantly by the SMEs and are highly labour intensive.
He said the fast moving and deteriorating events in the West Asian economies and their impact on markets like turkey are also taking a toll on the exports.
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