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India's exports are anticipated to achieve positive growth by the fiscal year 2025-26.
This projection comes from a Commerce Ministry official, highlighting resilience despite global economic challenges and geopolitical conflicts.
The current financial year is also expected to conclude with positive export performance.
The forecast underscores India's efforts to maintain its trade momentum in a challenging international environment.
Export performance directly influences India's merchandise and services trade balance, impacting the overall current account.
Exports are a significant component of aggregate demand, contributing to the nation's overall economic growth rate.
Initiatives like the Production Linked Incentive (PLI) scheme are designed to boost domestic manufacturing and make Indian products more competitive for exports.
International trade is highly susceptible to global economic slowdowns, geopolitical tensions, and disruptions in supply chains.
Responsible for formulating and implementing foreign trade policy, promoting exports, and regulating trade and commerce in India.
An attached office of the Ministry of Commerce and Industry, tasked with implementing the Foreign Trade Policy and related procedures.
GS Paper III - Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth. International Trade.
General Awareness - Indian Economy, Current Affairs, Government Schemes.
General Awareness - Economic & Financial News, Current Affairs, Trade Policies.
General Awareness - Indian Economy, Current Affairs.
Consider the following statements: Statement-I: India accounts for 3.2% of global export of goods. Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme. Which one of the following is correct in respect of the above statements?
Answer: Statement-I is incorrect but Statement-II is correct
With reference to the international trade of India at present, which of the following statements is/are correct? 1. India's merchandise exports are less than its merchandise imports. 2. India's imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years. 3. India's exports of services are more than its imports of services. 4. India suffers from an overall trade/current account deficit. Select the correct answer using the code given below:
Answer: 1, 3 and 4 only
Consider the following statements: Statement-I: Switzerland is one of the leading exporters of gold in terms of value. Statement-II: Switzerland has the second largest gold reserves in the world. Which one of the following is correct in respect of the above statements?
Answer: Statement-I is correct but Statement-II is incorrect
High
Exports of tangible goods, such as manufactured products, agricultural produce, and raw materials.
Exports of intangible services, including IT services, tourism, financial services, and business process outsourcing.
An economic measure where a country's imports of goods and services exceed its exports.
Adverse global economic or geopolitical factors, such as recessions, inflation, or conflicts, that negatively impact trade and growth.