Exports rebound in Nov: GTRI
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New Delhi: Supply-chain realignments and inventory restocking ahead of the US holiday season helped India’s exports rebound in November, think tank GTRI said on Sunday.
After recording contraction for two consecutive months, India’s merchandise exports to the US rose 22.61 per cent to $6.98 billion in November despite steep 50 per cent tariffs on domestic goods, according to commerce ministry data.
Imports during the month grew 38.29 per cent to $5.25 billion. During the April-November period of this fiscal year, the country’s exports to the US increased 11.38 per cent to $59.04 billion, while imports rose 13.49 per cent to $35.4 billion. The US has imposed a sweeping 50 per cent tariff on Indian goods entering American markets from August 27.
The Global Trade Research Initiative (GTRI) said in sectors such as electronics and machinery, “supply-chain realignments and inventory restocking ahead of the US holiday season also supported shipments”.
