On A Weak Charge
A significant drop in lithium prices will lead to reduced costs for electric vehicle manufacturers and lower expenses for producers of green technologies.
A significant drop in lithium prices will lead to reduced costs for electric vehicle manufacturers and lower expenses for producers of green technologies.
Services exports, which grew 26.79 % year on year to touch $ 322.72 billion in 2022-23 was the prime driver for Indian export performance the previous year too.
The goods imports during the month showed a decline from $61.22 billion in December 2022 to $58.25 billion in December 2023.
As the calendar year comes to a close, uncertainties continue to impact global trade, proving that the government’s assessment was correct – unpredictability is the norm.
Exports as % of GDP have remained rangebound in recent years.
Shifting assembly and procurement to India could lead to potential cost savings ranging from 25% to 40%, says Boston Consulting Group.
Merchandise exports declined by 22% to $32.97 billion in June as against $42.28 billion in the same period last year.
In FY23, the country's merchandise exports surged 6% to a record $447 billion.
An export development fund with a corpus of ₹5000 crore for aggressive overseas marketing by MSMEs can go a long way in showcasing Indian products globally, says FIEO.
The report points out that among the G20 nations, the USA is India’s largest merchandise trade partner with $119 billion.