Import growth, too, has slowed down, with total imports registering a growth of only 10.6 per cent, with oil imports registering a growth of 22 per cent and non-oil imports a dismal 5.5 per cent. While the slowdown in oil imports may be the direct fallout of the sharp decline in international crude oil prices, the slowdown in non-oil imports is a cause for concern, Ajay Sahai, director general of Federation of Indian Export Organisations (FIEO) told The Indian Express. Sahai added FIEO does not expect exports to pick up any time soon.
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