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India's exports to US touch $ 77.5 bn in FY2024
The Business Guardian
|December 15, 2024
India's exports to the United States have shown a consistent upward trend, valued at USD 77.5 billion in FY24, marking a growth rate of 10.3 per cent compounded annually (CAGR) over the last 30 years, according to a report by Bank of Baroda.
Notably, the growth in exports to the US was higher than aggregate exports until FY00. However, the global financial crisis in 2008 slowed down growth until FY10.
Since then, the growth in exports to the US has consistently outpaced the overall export growth, underscoring the growing importance of the American market for Indian exports.
The report highlights that India's exports to the United States have followed a similar trajectory to the country's overall export growth since 1991, when India began economic reforms.
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