Exports saw sharp fall on decline in US and UAE share

Exports to India’s key markets – the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany – witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India’s biggest export market – the US – with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.