You are here: Home » Economy & Policy » News
Business Standard

India's exports are steadily rising, but import bill hurts much more

In FY18, India's exports grew by 9.77% while imports shot up by 21.13%

Subhayan Chakraborty 

imports, exports

have grown steadily in the last three years. And as Commerce and Industry Minister recently said, the country’s export performance has been extremely good at a time when global trade is witnessing headwinds, as countries resort to protectionism. But imports continue to surge.

In FY18, India's exports grew by 9.77 per cent while imports shot up by 21.13 per cent. And that too, on a higher base. The result: Trade deficit has been rising sharply.

This has prompted the government to place import restrictions and raise inbound duties on six separate occasions for hundreds of products including textile inputs, steel, and solar panels, among others.

India's exports are steadily rising, but import bill hurts much more

First Published: Thu, December 27 2018. 23:26 IST
RECOMMENDED FOR YOU