India's FY24 goods exports to Europe highest in a decade
Exports to Europe stood at $98.9 bn in FY24, a tad higher than $98.3 bn in FY23 and almost double of $50.4 bn in FY16, lowest exports reported in the past 10 years
Exports to Europe stood at $98.9 bn in FY24, a tad higher than $98.3 bn in FY23 and almost double of $50.4 bn in FY16, lowest exports reported in the past 10 years
The decline in trade was attributed to a drop in consumer spending across advanced nations due to persisting geopolitical tensions and monetary tightening induced recessionary fears.
The biggest challenge for the country is to integrate with global value chains (GVCs) to boost exports.