Team Blitz India
NEW DELHI: India’s merchandise exports surged by 1.07 per cent to nearly $35 billion in April, despite global market uncertainties stemming as per data from the Union Commerce Ministry released on May 15.
However, imports saw a significant increase of 10.25 per cent during the same period, reaching $ 54.1 billion, primarily due to heightened gold purchases.
Amid the ongoing geopolitical crisis across the globe, finalisation of mega free trade agreements (FTAs) may boost India’s exports of labour-intensive goods and contribute to the country’s economic growth, the World Trade Center (WTC), Mumbai said.
The expectation of finalizing Free Trade Agreements (FTAs) with economies such as Oman and the UK may present new export opportunities to Indian exporters. “The current financial year may prove to be challenging yet filled with opportunities for India’s international trade,” said Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai.
