India trade reports

The current slowdown witnessed in the last two quarters can be accredited to tight liquidity and working capital, weaker domestic consumption patterns and slower global growth. As the global economy continues to face challenges, and trade tensions between major economies ensue, many leading global importers have begun exploring trade alternatives to China. The USA has emerged as a strong trade partner with India showing growth in exports as well as imports. India boosted its 'Ease of Doing Business' in World Bank’s 2020 rankings. This provides a huge opportunity to entice multinationals and global investors to grow their trade with India."

Steve Felder, Managing Director - Maersk South Asia

Highlights

  • The overall import and export trade growth remained flat during the July-September quarter of 2019
  • While imports into the country witnessed a subdued growth, the overall fiscal impact was nullified by an identical contraction in exports
  • Overall exports to Africa grew by 11% led by appliances & kitchenware, vehicles & seeds, beans and cereals & flour
  • Refrigerated cargo (reefer) exports from India to the Mediterranean region witnessed an increase, primarily fuelled by meat, fish and shellfish

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“Over the past many months, both international factors – such as slowing trade growth, and growing trade tensions – coupled with domestic factors – such as rural consumer distress, tightening liquidity and a slow-down in key manufacturing sectors, have impacted the country’s economic activity” -Steve Felder, Managing Director - Maersk South Asia

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“In India, consumption of paper is growing at 6-7% annually, mainly driven by an expanding middle class, urbanisation and rise in disposable incomes.” - Steve Felder, Managing Director - Maersk South Asia

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“While India’s export growth with the world stagnated, export growth to North America actually doubled to 15% in Q2 2019” - Steve Felder, Managing Director - Maersk South Asia

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“In its second term now, the Government is extremely focused enhancing the ease of doing business and reduce overall logistics costs for the industry through the new proposed draft National Logistics Policy”

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