B.V.R. Subrahmanyam states a statement that “Rising imports a concern, but imposing curbs not the solution”.
At the current time, India is facing problems in the import-export sector. As per the latest news, the Indian export sector decreased by 1.62% in August 2022 and the import sector increased by 37% in August 2022.
India is importing goods in high amounts such as fuel, edible oil, fertilizer, coking coal, and pulses.
Indian ministries are discussing restricting imports to manage the currency fluctuation but most of them are suggesting an increase export sector.
BVR Subramanyam said the India & UK Free Trade Agreement (FTA) is in the final stage and most probably it will be done by this Diwali.
With the help of this Trade, The pact will have 27 chapters of services, including goods, environment, and labor. Which increases the Indian export.
For more information stay tuned with Exim Trade Data
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