Help exporters brace pressures on trade
India’s merchandise exports shrank 12.2% last December—the second contraction in three months. The decline appears broad-based, with as many as 19 of the 30 key segments, like petroleum products, drugs and pharmaceuticals, witnessing a drop. Notwithstanding two months of contraction, private estimates peg India’s exports to grow by 1.5–2% in FY23, with Q4 numbers likely neutralising the decline. But the bad news is 2023 spells greater pressures for India’s trade, with key markets heading into a recession and exports becoming Read Full Details…