Even as India goes on signing Free Trade Agreements (FTAs) with countries across the globe, focusing now on developed countries, data shows Indian exports are growing slower than imports with FTA countries. A Niti Aayog report shows that in the second quarter of 2024-25, trade deficit with FAT countries grew by 23% year-on-year to $26.7 billion.
According to the report, exports to FTA countries totalled $37.4 billion during the quarter, reflecting a 4% y-o-y decline.
Key regions like ASEAN (-10%), Singapore (-19%), and Australia (-19%) saw notable declines, which contributed to the overall drop. However, there was growth in exports to Japan (31%), Bhutan (22%) and Sri Lanka (11%) highlighting opportunities in these markets.
+ There are no comments
Add yours