Exports: Breaking Into Top Five
India is now among top five exporters in a large number of categories. The lessons from these successes can be used to dominate in other sectors.
India is now among top five exporters in a large number of categories. The lessons from these successes can be used to dominate in other sectors.
The goods imports during the month showed a decline from $61.22 billion in December 2022 to $58.25 billion in December 2023.
Exports as % of GDP have remained rangebound in recent years.
Shifting assembly and procurement to India could lead to potential cost savings ranging from 25% to 40%, says Boston Consulting Group.
The decline in exports was partially softened by the resilience shown in services exports
In FY23, the country's merchandise exports surged 6% to a record $447 billion.
Services exports are booming, significantly reducing trade deficits generated by merchandise trade, but it remains a blind spot for policymakers with little data, analysis or efforts to push
Exports rose marginally by 1.62% to $33.92 billion last month as compared to $33.38 billion in August 2021.
India set an ambitious target of $400 billion of goods exports and achieved this target for the first time ever, says PM Modi
The overall value of global trade reached a record level of $28.5 trillion in 2021.