Much on the expected lines, the lockdown situation in the country has resulted in a major crash in exports figure in the month of April. It dipped by a hefty 60.28 percent amounting $10.36 billion- biggest monthly decline in the past two and half decades.
Responding to the figure, FIEO President Sharad Kumar Saraf said that lockdown measures due to Covid-19 across the globe has not only pushed the global business sentiments to its lowest but has also impacted the supply chain and brought slump in the economies across the world.
28 out of the 30 major product groups saw highest-ever double-digit negative growth of almost up to 99 percent during April 2020. Even large quantities of petroleum exports could not push value wise exports as the international prices were at rock bottom.