Comment of Mohit Singla, Chairman Trade Promotion Council of India (TPCI) on the trade performance Sept 2020
Press Release:
Comment of Mohit Singla, Chairman Trade Promotion Council of India (TPCI) on the trade performance Sept 2020
15th October 2020, New Delhi: Indian exports is already on the path of recovery TPCI constant engagement with buyers and suppliers throughout the year has been very well reciprocated by the industry, which responded very positively despite tough times. Food and agri exports from the country has recorded almost 45% growth the last quarter and will continue to do so in future. The industry is optimistic and responding positively to cater to the global demand.
Further TPCI Chairman said, “There is surge in demand of Indian rice, spices and vegetables including essential oils, soybean meal, cake and some extracts for medical use.” The surge in demand over the impact of the crisis on overall agricultural exports reflects the fact that demand for food is relatively sustainable, and that marine transportation used for most agricultural products has not been significantly disrupted due to pandemic, Chairman added.
Expressing optimism TPCI Chairman said, “The supportive domestic ecosystem created by policy push will further see Indian agri and food products surge in demand globally.” Global trade shows signs of rebound from Covid-19 as per the WTO latest estimate, the performance of the trade for the year to date exceeded expectations due to a surge in June and July as lockdowns were eased and economic activity accelerated, he added.
The other sectors which will see rise in demand globally are steel, mining, pharma, home sanitation and home furnishing sector, including logistic and chemical, e- commerce sector is all agog to see grow for next two quarter. Furthermore, a good monsoon and expected record crop yield along with new farmers act have boosted the farm producer sentiments.
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