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FIEO Predicts 10 Million Job Losses in Export Sector by March

Manpreet


Despite of a number of export sector-oriented support schemes announced by the Government in its second stimulus package last week, the recent prediction by the Federation of Indian Exports Organization has come as a shocking news for the much tumbling export sector. FIEO said that the figures of job losses would reach 10 million by March 2009 in the export sector.


FIEO expects the government to take some serious measures to revive the export sector of India. According to the earlier calculations by FIEO, the number of job losses was estimated to be between 1 to 3 million but it has taken a significant jump in the recent past.


The growth rate of the export sector is also expected to be shaky; the total export figure is likely to go down and perhaps below US$ 175 billion for the whole financial year.

 
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