In the recent years, India’s trade deficit has widened by 45% to USD 157 billion in 2017-18 compared with USD 108 billion in 2016-17. The year 2017-18 has been a missed opportunity for India to touch an unprecedented growth in its exports, as world economy has shown remarkable signs of growth and major economies like US, EU, Japan are showing rise in their import growth. India’s exports as a percentage of GDP has fallen to its lowest since 2003-04, viz. 12% during 2017-18.
Despite being the fastest moving emerging economy in the world, we are struggling to contribute to the global value chains across the world. The lackluster export performance will have a crippling impact on the growth of Indian economy in the coming years. Various structural and domestic factors such as after-effects of demonetization and teething problems of GST have significantly impacted the potential of exports growth. Many of the exporters are still struggling for their IGST refunds and are out of exports business as their working capital has been squeezed as crores of rupees have been stuck in the IGST refunds process.
At this backdrop, PHD Chamber of Commerce and Industry is conducting a survey to identify and access the ground level impediments faced by exporters. PHD Chamber’s Exporters’ Perception Survey (EPS) is based on a survey of exporters across different sectors and is used as an indicator to assess outlook of exports performance in India. We therefore request you to kindly share your views by way of answering the survey.