New Delhi: The Congress on Wednesday, slammed the Modi govt over decling exports and price rise. They said that despite Narendra Modi’s 30 foriegn visits during his 18 month tenure, India’s exports have dropped by a whooping 45 percent. The party also remarked on the price rise of essentials saying the government has “in one stroke taken away carbohydrate, protein, vitamin and fat from the plates of the common man”.
“After 30 foreign visits and another four lined-up, all that Modi has achieved for the nation during his 18 months tenure is a whopping drop of 44.89 percent in Indian exports, from 280 billion dollars in May 2014 to 154 billion dollars today,” Congress spokesman Abhishek Singhvi told reporters.
He said that despite “all the hoopla” created by the Modi government around ‘Make In India’ initiative, Indian exports have contracted for 11 straight months now and plummeted by 17.6 percent to just 154.29 billion dollars in October.
He said that on the other hand, under the Congress-led UPA government, India’s exports crossed the targeted 300 billion dollars and stood at 315 billion dollars in March 2013.
“What is particularly worrying is the persistent weakness across other major segments. Gems and jewellery, which account for roughly 13 percent of the export basket, fell by 12.8 percent and chemicals and related products which account for 10 percent of the basket fell by 8.2 percent while engineering goods with a share of 22.4 percent have contracted 11.6 percent,” Singhvi said.
This continuing weakness reinforces concerns about India’s ability to replace China as the manufacturing hub of the world and it also raises serious doubts about meeting the $300 billion export mark, he said.
Posing a number of questions to the Prime Minister, Singhvi asked as to why is the economy in such a “pitiable” state. “Apart from the sloganeering that the Prime Minister is indulging in the NRI circuit, what tangible steps has the government taken to push exports,” he asked.
The Congress spokesman also asked the Prime Minister what exactly “have you been doing on your frequent foreign tours?”
“What reason does the Prime Minister have about the contracting exports of iron ore, rice, oil seeds and jewellery for which India is famous for,” Singhvi asked.
