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Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

indian economy, exports, imports, trade deficit
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The export momentum has started dissipating due to the global economic slowdown but opportunities can be opening up in areas where Europe and America get less competitive due to inflation and strong dollar

TNC Rajagopalan
Last week, Bangladesh Prime Minister Sheikh Hasina visited India to strengthen bilateral economic co-operation and India suggested greater economic cooperation with Russia at the Eastern Economic Forum in Vladivostok. Finance Minister Nirmala Sitharaman said importing Russian oil at discounted prices was part of inflation management.

On the other hand, Commerce Minister Piyush Goyal spoke of greater export potential through trade deals, crude oil prices went below $90 per barrel despite production cuts by major oil-producing countries and our government imposed a 20 per cent duty on rice exports.

Also, Japan and India agreed to increase cooperation in defence and emerging
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper