India's foreign trade at critical threshold
The foreign trade of India is presently standing at a critical threshold. A successful crossover will open abundant opportunities, while a failure will close many more doors. Before looking at the opportunity, it is pertinent to note the current state of affairs of our foreign trade. The broader picture of India's foreign trade could be summarized as follows: (a) India's total exports have mostly ranged between $25bn and $30bn per month since 2011. (b) India's total imports have mostly ranged between $35bn and $45bn per month since 2011. (c) India's trade balance has consistently worsened since 2004, and is mostly ranging between $10bn and $15bn since 2011. (d) India's non oil trade balance has worsened materially since 2004 and stands close to $100bn per annum. (e) India's foreign trade growth has consistently lagged the overall GDP Growth since 2012. ...