India’s External Sector: Safely Navigating through Uncertainties
Merchandise Trade Depicted Resilience
- Export Performance: India's merchandise exports showed resilience, achieving record-high levels, with a notable increase of over 50% in the past decade, reaching USD 451.1 billion in FY23. However, growth moderated in FY23 due to geopolitical tensions and continued to do so in FY24.
- Import Decline and Trade Balance: Merchandise imports grew by 16.8% in FY23, but a decline in imports improved India's merchandise trade balance from a deficit of USD 189.2 billion (April-November 2022) to USD 166.4 billion (April-November 2023).
- Export Diversification: While the principal commodity classification in exports remained stable, there has been progressive diversification in ....
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What Made The Indian Economy Resilient?
- 1 Domestic Economy
- 2 Government Initiatives
- 3 Reform Push to the Indian Industry
- 4 Digital Infrastructure and Delivery of Citizen-Centric Services
- 5 Evolving Financial Markets to Support the Investment Needs of a Growing Economy
- 6 Safeguarding Macroeconomic Stability
- 7 Human Resources - Dovetailing Growth with Welfare
- 8 A New Approach to Welfare
- 9 How has the New Approach to Welfare Paid Off
- 10 Women-led development: Tapping the Gender Dividend for India@100
