India clocked $451 billion items export in FY 23 and $394.99 billion in April-February FY24.
In its newest World Commerce Outlook and Statistics report, India’s share of world items exports was 1.8% in 2023 and imports was 2.8%.
In digitally delivered companies, India’s share rose to six% in 2023 from 4.4% in 2019, it stated.
In international industrial companies, India’s share in exports is seen 4.4% in 2023 at $344 billion, up 11% on-year whereas imports have been flat at $247 billion.
The quantity of world merchandise commerce ought to improve 2.6% in 2024 and three.3% in 2025 after falling 1.2% in 2023, WTO stated however cautioned that regional conflicts, geopolitical tensions and financial coverage uncertainty pose substantial draw back dangers to the forecast.“World items commerce is predicted to select up progressively this 12 months following a contraction in 2023 that was pushed by the lingering results of excessive vitality costs and inflation,” WTO economists stated.As per the report, indicators of fragmentation may be rising in companies commerce: US imports of knowledge, pc, and telecommunications (ICT) companies from North American buying and selling companions (largely Canada) elevated to 23% in 2023 from 15.7% of whole ICT imports in 2018
whereas US imports of the identical from Asian buying and selling companions (largely India) fell to 32.6%. from 45.1%
Between 2019 and 2023, the rise within the share of “Different Asia” (Asian nations besides China) was pushed primarily by elevated commerce with Viet Nam, Thailand, Taiwan, and India. In 2023, the greenback worth of bilateral commerce with these economies was up 136%, 103%, 82%, and 76%, respectively, in comparison with pre- pandemic ranges, in keeping with the report.
