Key Points
Improved demand in the European Union, West Asia and the US has boosted export order books by at least 10% from six months before, companies said, signalling a possible recovery from last year..
Leather goods, footwear, and apparel are driving demand but engineering goods shipments for new projects are facing a challenge due to geopolitical tensions, exporters said.. "Overall, compared to the last six months, the order position has improved 15-20% for leather footwear especially from the US and partially Europe," said Rafeeq Ahmed, chairman, Farida Group, one of India's largest shoe manufacturers and exporters..
"While logistics issues are still causing a problem, there is a recalibration of the market after six quarters of issues such as inventory pile up in the US, besides the Ukraine and Israel wars and demand slowdown," he said.. "Buyers have a better liquidity position for the upcoming sales season compared to last year and they are using that to fill their shelves.".
"We're seeing a 10% improvement in engineering goods exports like scaffolding but among the markets; there is no improvement in Europe," said Sharad Kumar Saraf, founder chairman of Technocraft Industries India, a manufacturer and exporter of engineering goods and textiles...
Federation of Indian Export Organisations (FIEO) director general Ajay Sahai said that the demand scenario is better than six months back and there is a 15% improvement, especially in apparel and footwear..
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