India’s exports rose 5.71 per cent in April. However, major labor-intensive sectors - gems and jewelry, leather and readymade garments -- may continue to see decline. These sectors are still facing the problem of liquidity as banks and lending agencies have continuously been tightening their lending norms and the flow of GST refunds has also slowed down.

Among labor-intensive sectors, readymade garment exports have continued to drop since October 2017. Exports in the sector fell by a significant 22.76 per cent in April, higher than the 17.78 per cent fall in March. At present, the industry is going through a tough period with its competitiveness greatly eroded. This is reflected in the unprecedented month on month decline in apparel exports every month after October 2017.

Refinery exports declined 4.5 per cent in April. This happened despite the rise in global crude prices notwithstanding. However, the rate of contraction reduced from 13.22 per cent in March and 27.44 per cent in February. This happened as major oil refineries were closed at the same time due to maintenance and other issues. Industrial production in the country witnessed a growth of 11.73 per cent in April against a 4.60 per cent rise the previous month.