India’s Export Challenges: Global Turbulence and Strategic Interventions Ahead

India's merchandise exports have been declining since October, with expectations to drop below USD 435 billion by fiscal year-end. Global Trade Research Initiative highlights key sectors struggling, such as petroleum and engineering goods, suggesting strategic policy measures to bolster recovery and maintain competitiveness in the global market.

India's merchandise exports, facing a steady decline since last October, are anticipated to dip below USD 435 billion by the end of this fiscal year, according to the Global Trade Research Initiative (GTRI).

The decrease was attributed to volatile petroleum prices and global uncertainty. Exports fell 10.85% in February, down to USD 36.91 billion. Key sectors such as petroleum products, gems, and jewellery witnessed negative growth, heightening the call for strategic interventions.

To stabilize these sectors, GTRI's Ajay Srivastava suggested measures including access to low-cost export credit, technology upgrades, and enhanced policy support to ensure global competitiveness and sectoral recovery.

(With inputs from agencies.)