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FINANCE MINISTRY FLAGS EXPORT RISKS AMID WEAK DEMAND
The Business Guardian
|November 26, 2024
India's Finance Ministry highlights export challenges, inflation concerns, and trade deficit trends in its latest report.
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India's export recovery may face challenges due to softening demand in developed markets, the Ministry of Finance stated in its monthly report on Monday.
Merchandise exports registered moderate growth during the first seven months of 2024-25, attributed to weak external demand and a decline in international commodity prices.
On the other hand, merchandise imports performed well, driven by strong domestic demand.
A larger increase in imports compared to exports resulted in a widening trade deficit.
The trade deficit--the difference between exports and imports--expanded from USD 60.02 billion to USD 63.24 billion so far in 2024-25, marking an increase of 5.36 per cent.
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