• UGI USER
  • Apr 30, 2024
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FIEO WARNS GLOBAL UNCERTAINTIES COULD AFFECT INDIA’S EXPORTS

Why in the news ?

FIEO warns escalating geopolitical tensions could decrease global demand, impacting India’s exports; urges government support for exporters’ liquidity.

source:slideserve

About Impact of Geopolitical Uncertainties on Exports:

  • FIEO, the apex exporters’ body, warns of potential repercussions on India’s exports due to escalating geopolitical tensions worldwide.
  • The ongoing Russia-Ukraine conflict has already affected India’s outbound shipments in 2023-24, resulting in a 3.11% decline to $437 billion.
  • Imports also saw a decline of over 8% to $677.24 billion during this period, indicating broader economic implications.
About The Federation of Indian Export Organisations (FIEO):

  • Established in 1965, FIEO represents Indian entrepreneurs’ global presence.
  • Apex body comprising export promotion councils, community boards, and development authorities.
  • Facilitates communication between Indian exporters, governments, financial institutions, and trade facilitators.