Merchandise exports to grow 6.9% year-on-year in 2021-22: India Ratings

Some of the major export destinations for India's top-10 commodities, such as the US and parts of Europe, are expected to see strong import growth in 2021

Outbound shipments from India, which have been languishing for quite some time, can benefit from the favourable trade growth outlook of 2021 and consolidate further from the level achieved in the first quarter of this fiscal, India Ratings and Research said on Thursday.

As per its analysis, export destinations for India’s top-10 commodities are likely to see strong import growth in 2021.

“For example, the US which is part of North America and the UK, Belgium, Germany, Italy and the Netherlands, which are part of Europe are expected to clock import growth of 11.4 per cent and 8.4 per cent YoY, respectively