
India emerging as export powerhouse for U.S. firms: BCG
Shifting assembly and procurement to India could lead to potential cost savings ranging from 25% to 40%, says Boston Consulting Group.
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.
India suffered a year-on-year decline in the value exports in October.
India’s imports in September this year surged 5.44% to $59.35 billion compared to $56.29 billion in the same period the previous year.
With its own sectoral growth prospects and capex iffy, India's expectation of 7.2% growth is largely dependent on good luck on external and internal fronts
Exports remained above $30 billion for twelve consecutive months during April 2021 to March 2022.
India's export will get impacted by soaring commodity prices as majority of them are value added products of imported commodities, pushing India to bank more on IT services.