India's Merchandise Exports Drop In October; A Reflection Of Tough Global Conditions, Say Exporters
NDTV
Exporters said that the slowdown in merchandise exports is a reflection of tough global trade conditions.
India's merchandise exports in October declined to $29.78 billion compared to $35.73 billion in the same month last year.
Inbound merchandise shipments in the month under review stood at $56.69 billion as against $ 53.64 billion in October 2021.
Exporters said that the slowdown in merchandise exports is a reflection of tough global trade conditions. They said the fall in exports was due to rising inflation, economies entering a recession, high volatility in currencies, and geopolitical tension.
A Sakthivel, president of the Federation of Indian Export Organisations, said the drop in commodity prices and restrictions on some exports, intending to stem the price increase in the domestic market, also affected the growth numbers.
