This Fiscal year, when the world’s Commerce market is driven slowly, on that time, Mobile phones, tobacco, processed food, inventory, electronics, gold jewelry, and leather-based items have driven India‘s merchandise exports to the next level within the first six months
According to the Exim Trade Data, From April to September Indian shipping of telecom equipment overseas rose by 88% at $5 Billion approximately.
The Indian gold and metallic jewelry market are grown 22.24% at $6.5 Billion. The country that exported those items the most is Hong Kong. Thailand, Switzerland, and Singapore and become new growth markets in the world.
The World Trade Organization predicted in its projection released in October that global trade growth will slow to 1% in 2023, a substantial decline from the prior estimate of 3.4%.
This expected decline is attributed to global uncertainties. India’s goods exports increased 16.96% year over year in the first half of FY23, from $198.25 billion to $231.88 billion.
Enough for now, stay tuned for the latest news related to the India Import and export sector.
