Turning tide: On the export rebound
From a reasonably healthy show at the onset of this financial year, India’s goods exports had stumbled sharply in the second quarter, shrinking an average 5.8% over the first two months and rising a mere 0.5% in September. With half the year gone by, exports were up just 1%. In this backdrop, the 17.25% surge in merchandise shipments to overseas markets through October is a positive surprise, with the year’s second-highest tally of $39.2 billion. Trade mandarins have attributed the uptick to stronger demand for the Christmas season in developed markets. If this festive demand holds, at least the next couple of months should see healthy numbers. With services exports rising 14.6% by September, official hopes of cumulative exports through 2024-25 crossing a record $800 billion may yet be att...