Daijiworld Media Network- New Delhi
New Delhi, Apr 4: India’s gold jewellery, shrimp, and carpet exports are expected to face significant challenges amid shifting global trade dynamics, while the country’s robust pharmaceutical industry remains largely unaffected, according to market analysts.
The gold jewellery sector, which contributes substantially to India’s export revenue, is grappling with declining demand from key international markets. Economic slowdowns and fluctuating commodity prices have compounded the challenges for exporters.
Similarly, the shrimp export industry is witnessing a downturn due to rising competition from other countries and stringent quality standards imposed by major importers. Exporters have raised concerns over regulatory hurdles and fluctuating demand, which have adversely impacted earnings.
The carpet export segment, known for its high-quality handcrafted products, is also experiencing a slump. Global economic uncertainties and reduced discretionary spending in Western markets have contributed to diminishing orders, leaving exporters worried about sustaining growth.
However, experts noted that India’s pharmaceutical industry remains resilient despite global trade disruptions. With a strong manufacturing base and consistent demand for generic medicines, the sector continues to perform well, both domestically and internationally.
“The pharmaceutical industry has proven to be immune to the ongoing challenges faced by other export sectors. Demand for essential medicines and vaccines remains strong, providing stability to the sector,” a trade analyst commented.
Industry observers have urged the government to intervene with supportive policies to help struggling sectors regain their competitive edge in the global market. They also emphasized the need for diversification of export markets and innovation to address emerging challenges.
As various export sectors navigate an uncertain landscape, the resilience of India’s pharmaceutical industry offers a glimmer of hope amid broader economic concerns.