This news article discusses India's trade performance in December 2024. Here are some key takeaways:
Mixed Trade Results:
Exports: Contracted slightly by 1% year-on-year.
Imports: Increased by 4.9% year-on-year.
Trade Deficit: Narrowed significantly to a three-month low of $21.9 billion.
Gold Imports: Declined sharply from November, but still significantly higher than December 2023.
Government's Perspective:
Played down concerns about the export blip, citing overall growth in the first nine months of the financial year.
Highlighted the resilience and consistency of exports.
Exporters' Concerns:
Expressed concerns about factors like volatile commodity prices, currency fluctuations, and logistical challenges.
Called for urgent measures in the upcoming Union Budget to boost exports, including support for manufacturing and labor-intensive sectors, addressing trade finance issues, and implementing a focused export strategy.
Key Factors:
Petroleum imports increased slightly.
Petroleum product exports declined sharply.
Non-petroleum exports showed consistent growth.
This information provides a snapshot of India's trade situation, highlighting both positive and negative aspects, and the differing perspectives of the government and exporters.
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