India’s
export growth has been contracting, given the slowdown in the global
economy. Exports have fallen around 17.6% since the beginning of fiscal
2016 after declining marginally in fiscal 2015.
What is worrying is that exports to Asia are also declining. In the past few years, India diversified its exports towards the Asian markets, especially after the financial crisis hit North America 2008-09.
Asia accounts for around half of India’s total exports so far in 2015-16, which is more than the combined share of Europe and the US at 31.8%.
What is worrying is that exports to Asia are also declining. In the past few years, India diversified its exports towards the Asian markets, especially after the financial crisis hit North America 2008-09.
Asia accounts for around half of India’s total exports so far in 2015-16, which is more than the combined share of Europe and the US at 31.8%.
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