Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
Exporters believe the situation will also have a grave outcome for employment, with large numbers of casual laborers looking at no work, as well as downstream units facing a loss of work, reports Subhayan Chakraborty.
The Engineering and Export Promotion Council will send a 15-member delegation to China in February-March, 2005, to explore export potential, its chairman Rakesh Shah said.
Imports during October also rose by 17.62 per cent to $44.11 billion, leading to widening of trade deficit to $17.13 billion.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
India may be hit if stalemate in Washington persists over two weeks.
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