India needs to fix weak exports as oil poses risk for trade deficit


India needs to fix weak exports as oil poses risk for trade deficit

The hallmark of the past four years for the Indian economy was the drop in global crude oil prices that made it easy to manage not just inflation but also the current account deficit. With crude oil showing signs of climbing back, the focus on boosting exports is back on the table.

The good news is that exports showed a healthy growth of 11% in March, which took the growth for the full year to 9%. Exporting farm products was easier, though Indian manufacturers had a tough time selling their finished wares. For them, the situation could get worse before it gets better.

The slowdown in global economic growth is not helping in terms of demand as leading advanced economies are grappling with their own growth issues. Read More

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