GST roadblocks hit India's export prospects in FY'18, says a report
A moderate export growth of 10 per cent last financial year also led to a 45 per cent jump in trade deficit at USD 157 billion in 2017-18 against USD 108 billion, the report said. While releasing the study on Impact of GST on Business, Industry and Exporters', PHD Chamber President Anil Khaitan said that various structural and domestic factors such as after-effects of demonetisation and teething problems of GST have significantly impacted the potential of exports growth
Many of the exporters are still struggling for their IGST refunds and are out of exports business as their working capital has been squeezed. Image source: PTI