Trade trapeze: The Hindu Editorial on India’s exports
After a rough 2023-24, when India’s merchandise exports tanked 3.1% to around $437 billion, trade tides appear to be turning. The last two months have recorded an expansion in outbound shipments with the momentum picking up from a 1.1% rise in April to a 9.1% uptick in May. Some of this reversal had begun in the January to March quarter, when exports grew 4.9% to a seven-quarter high of over $120 billion, belying worries about the disruptions in the Red Sea route since late 2023. Imports as well as exports have risen in four of the last five months now. With the European Central Bank slashing interest rates this month after a long hawkish stance post-COVID-19, exporters and trade officials are hopeful that its peers in key markets would follow suit and help shore up demand for their pro...