Friday, Mar 28 2025 | Time 04:24 Hrs(IST)
Business EconomyPosted at: Jan 31 2025 3:40PM


External sector has performed well but India must reduce trade costs, says Survey

New Delhi, Jan 31 (UNI) India’s external sector has performed well amidst unfavourable geopolitical conditions, as per Economic Survey 2024-25.
"On the current account front, though merchandise exports have displayed moderate growth owing to a slowdown in external demand, merchandise imports have shown remarkable growth supported by strong domestic demand," said the Survey tabled in Parliament by Union Finance Minister Nirmala Sitharaman.
The government's key economic document said that the increased net services receipts and growing remittances have cushioned the rise in the merchandise trade deficit.
"On the capital front, the economy has been witnessing net positive capital inflows," it said.
The Survey said that gross foreign direct investment (FDI) inflows have shown a higher growth in the first eight months of FY25 compared to the corresponding period of the previous year. However, a surge in repatriation has reined in the expansion in net FDI.
"FPI (foreign portfolio investment) inflows have shown volatility in the first nine months of FY25, showing mixed trends," it noted.
As per the Survey, global trade dynamics have changed significantly in recent years, shifting from globalisation to rising trade protectionism, accompanied by increased uncertainty.
"This calls for a new strategic trade roadmap for India. To remain competitive and enhance its participation in global supply chains, India must continue reducing trade costs and improving facilitation to boost export competitiveness. Much remains to be done to enhance trade competitiveness. The good news is that doing so is entirely in our hands," it stated.
The Survey said that the industry on its part must continue to invest in quality.
"The state produces governance, and the private sector produces goods and services. If both these actors focus on quality and efficiency, then despite the trade tensions and protectionism that are likely to come in the way of expanding global trade, India can increase its share in overseas markets and generate resources to sustain a higher level of capital formation," it said.
UNI NK KK
Please log in to get detailed story.
Tags: #External sector has performed well but India must reduce trade costs# says Survey
More News

Jindal Stainless to invest 42,886 crore in Maharashtra

28 Mar 2025 | 12:57 AM

Mumbai, Mar 27 (UNI) Jindal Stainless Limited is going to set up an investment project worth Rs 42,886 crore in Maharashtra, Chief Minister Devendra Fadnavis said here on Thursday.
Fadnavis said the project will create about 15,000 employment opportunities in the state.

see more..
Airtel lands the 2Africa Pearls cable in India

Airtel lands the 2Africa Pearls cable in India

27 Mar 2025 | 10:16 PM

Kolkata, Mar 27 (UNI) Bharti Airtel (Airtel) has landed the 2Africa Pearls cable in the country, connecting India to Africa, and Europe via the Middle East.

see more..

Karnataka govt okays Rs 4 per litre increase in milk prices

27 Mar 2025 | 7:21 PM

Bengaluru, Mar 27 (UNI) The Karnataka government has approved a Rs 4 per litre increase in milk prices, effective from April 1, following prolonged deliberations with stakeholders, including the Karnataka Milk Federation (KMF) and farmers' organisations.

see more..
SGGSCC hosts 7th biennial convention on AI and Viksit Bharat

SGGSCC hosts 7th biennial convention on AI and Viksit Bharat

27 Mar 2025 | 7:14 PM

New Delhi, Mar 27 (UNI) The seminar committee of Sri Guru Gobind Singh College of Commerce on Thursday organised Vimarsh, the 7th Biennial Convention on 'AI and Viksit Bharat: Harnessing the Tech Tailwinds of Aspirational India', at the India International Centre.

see more..

India's semiconductor mission to train 85000, drive USD 110 bn market

27 Mar 2025 | 6:59 PM

Bengaluru, Mar 27 (UNI) India’s semiconductor sector is set for a massive expansion with the government spearheading efforts to build a workforce of 85,000 professionals and propel the semiconductor market to an estimated $100-110 billion by 2030.

see more..