India trade reports

The overall deceleration of trade growth reflects a broad-based slowdown across key economic sectors. Amidst increasing global volatility, a slower local economy and the USA’s withdrawal of preferential access for certain Indian products, India’s import-export trade is expected to continue to face headwinds in the coming months. However, the recently proposed export promotion scheme, coupled with a weaker rupee, is expected to boost Make in India and benefit multiple industries.

Steve Felder, Managing Director - Maersk South Asia

Highlights

  • Overall imports grew at a mere 2% while exports remained flat 
  • Saudi Arabia emerged as one of the strongest export partners to India, while imports from Northern Europe grew
  • India’s exports to North America strengthened; vehicles growth slowed

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