Due to the slump in demand and rising commodity prices, ASSOCHAM informed that India’s exports are going to hit a five-year low at the end of 2015-16 with exports worth US $ 265-268 billion as compared to US $ 310 billion previous year. Apart from the fall in demand, the move of global merchandise economy from a very high cost, ultra-bullish commodity situation to a bearish and low cost situation where demand relates mainly to the actual consumption, has led to this drop. Export of leather products saw a decline of close to 13 per cent while the export of readymade garments fell 7.32 per cent in August.