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Keep eye on gold imports; electronics need support: ASSOCHAM on trade data

In any case the electronics goods have a small base which itself is squeezing further which does not augur well for the skilled labour intensive sector said ASSOCHAM

July 18, 2014 9:03 IST | India Infoline News Service
A detailed analysis of the trade data released shows that while engineering, petroleum goods and others have bounced back, the agri exports and shipments of electronics goods are causing concern requiring immediate support from the government, apex industry body ASSOCHAM said.

“In any case the electronics goods have a small base which itself is squeezing further which does not augur well for the skilled labour intensive sector,” said D.S. Rawat, secretary general of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
 
“On the import front as the trade balance is rising again, the country needs to be watchful especially with regard to gold, crude oil,” said Rawat.

“We only hope that the big rise in gold imports by over 65% is not repeated and does not become a pattern. It is, thus not surprising that the Finance Minister chose to retain restrictions on gold imports,” he added.

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