Indian exports grew less than 1% in Nov due to global trade war and other factors: EEPC India
New Delhi, Dec 15 (KNN) India’s trade deficit stood at USD 16.67 Billion for November 2018 as against the deficit of US $ 15.10 Billion in November 2017, according to the Ministry of Commerce & Industry trade data.
India’s overall exports (Merchandise and Services combined) in April-November 2018-19 are estimated to be USD 351.99 Billion, exhibiting a positive growth of 15.48 per cent over the same period last year, it added.
Overall imports in April-November, 2018-19 are estimated to be USD 428.18 Billion, exhibiting a positive growth of 16.86 per cent over the same period last year.
Responding to the trade data, EEPC India Chairman, Ravi Sehgal said “So, the global trade war and other head winds like slowing US economy, uncertainty over Brexit have started biting the world trade, without sparing Indian exports which have grown less than one per cent in November, 2018 year on year.”
Worst is the engineering exports which have plunged by over 16 per cent, manifesting a serious challenge for our exporters, he added.
As per the ministry data, engineering goods exports fall down by 16.35 per cent for November 2018, while there was an increase of 37.07 per cent in exports of electronic goods.