Exporters bear the brunt as Russia-Ukraine crisis takes its toll

War could affect export demand as Europe is the largest national export market for India

Amid growing uncertainty due to the ongoing conflict between Russia and Ukraine, exporters have already started witnessing a decline in the number of export orders from Europe.

The apparel and engineering sectors have already witnessed the trend in the past one week. If this continues, it can have an impact on the overall export demand in the coming months, considering that Europe is the largest national export market for India.

Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka said that while apparels has limited exposure to Ukraine and Russia, orders from Europe is also getting affected.

“The corporates in Europe