Economic Survey pessimistic on export growth prospects

In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before

The Economic Survey, tabled in Parliament last Monday, is not too sanguine about exports growth driving the economy forward and so recommends measures to boost domestic consumption which in turn can bring in more private investment. To quite an extent, the Budget speech and the proposals in the Finance Bill reflect the same view.

Global trade is getting fragmented with major trading powers increasing their share of imports and exports within their block. Established supply chains are getting distorted with more countries trying to source from friendly or nearby countries. The sea routes have become longer with Suez