Piyush Goyal (Minister of Commerce and Industry) asks exporters make price adjustments to retain market share

Amid a slowdown in outbound shipments from India, Commerce and industry minister Piyush Goyal on Monday asked exporters to make temporary changes in their pricing structure in order to retain the export market.

A temporary change in the pricing will help them accommodate short-term challenges, an official statement said.

The minister reviewed the sectoral progress in exports with Export Promotion Councils and Industry bodies in the national capital. The meeting comes in the backdrop of a faltering export growth as it reached single digits over the last three months.

The country’s exports grew 4.82 per cent to $35.45 billion in September, even as the trade deficit widened to $25.71 billion. The government is yet to release the data for October:

The minister also asked exporters to utilise the disruptions in the global trade in their favour by occupying the space yielded by some countries and analyse export data on the basis of sectors, commodities and markets to find out areas of opportunity for Indian exports.