Indian exports grew 6 per cent in the first quarter of this year driven by higher shipments to the Middle East and China, while imports logged a marginal decline during the period, logistics company AP Moller Maersk said Thursday.
Exports were driven largely by the east and west of India with commodities including plastic, rubber, textile, vehicles and vegetables as the key drivers, integrated logistics company Maersk said.
"India's containerised exports to the world witnessed a stable growth of 6 per cent in the first quarter of 2019 propelled by robust performances in refrigerated cargo, engineering and pharmaceuticals sectors, while imports declined slightly in the same quarter registering a market growth of -2.2 per cent in Q1," the company said in a statement.
The Middle East and China have driven India's export growth, it said.
The import demand was buoyed by pharmaceuticals, metal, appliances and kitchenware, paper, chemicals and fruit and nuts, mainly from northern Europe, South Asia, China and Russia, it said.
Commenting on the overall growth in containerised trade, Steve Felder, managing director, Maersk South Asia, said, "Enabling and facilitating trade is an integral part of our business, and it contributes to prosperity and development, globally and locally. Considering the tensions in the global trade environment, we are off to a positive start to 2019 on exports, and the market is expected to strengthen after the elections."
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