Export Surpasses Earlier FY 14 Peak In FY 19
India’s export hit a new high of $331 billion in the last financial year, however higher imports pushed up the trade deficit. In March as 20 out of 30 major product segments saw higher shipments, export expanded 11% to reach $32.5 billion, the highest in the month in recent years. In fact, the growth in March was the fastest increase in five months, helping the government scale a new peak during the fifth year of its term.
The government was patting itself on the back for the revival exports. The secular growth over last three financial year was following major downturn in the face of global slowdown merchandizes exports for 2018 are estimated at $331 billion, the highest ever, surpassing the earlier peak of $314 billion which was achieved in 2013-14. Even though the global environment was challenging the peak was achieved.
There were several policy-related difficulties like from credit flow to GST refund, the rising export is surely a movement to rejoice.