Second wave of coronavirus in Europe creates new hurdles for Indian exports: EEPC India on drop in exports

Kolkata, Nov 3 (UNI) With the Covid-19 pandemic persisting with a second wave in major European economies, the negative impact on global trade was inevitable and exports from India too suffered a setback in October, said EEPC India official Mahesh Desai
” The preliminary data for October shows a decline of 5.4 per cent in merchandise exports. We hope it does not form a trend line in the midst of a serious second wave of coronavirus in several countries of Europe, including the UK, Germany and France.
With several of these economies being subjected to yet another lockdown, we may see stormy headwinds to global trade, ” said Mr Desai.
He said the April-October exports have already shown a drop of over 19 per cent, making it necessary for the government and exporters to work together to face the difficult situation.