Trade isolation

India might lose yet another growth opportunity

Even as economic activity is recovering from the Covid-induced shock, the Indian economy is widely expected to end the current fiscal year with a 7.5 per cent contraction. While the next year will see a sharp rebound because of the lower base, it is not obvious that India will return to a higher growth path in the medium term. One important reason why attaining higher sustainable growth will be difficult is India’s stance on trade. Indian exports continue to underperform. While its outbound shipments fell by 9 per cent in November, for instance, China witnessed a growth rate of over