India’s has a trade surplus with 8 regions and regional groupings in the post pandemic years as compared with 6 regions and regional groupings in the pre pandemic years.
India’s exports performance has been significantly resilient in the post pandemic years as the country’s exports make new highs everyyear, the exports trajectory expanded from USD 497 billion in 2020-21 to USD 676 billion in 2021-22, USD 776 billion in 2022-23 and USD 778 billion in 2023-24. India has registered a positive exports growth in 17 out of 19 regions andregional groupings in post pandemic years.
India’s trade balance has been in surplus with 8 regions and regional groupings including North America, South Asia, European Countries (EU), Other European Countries, East Africa, North Africa and Central Africa in the post pandemic period.
Notably, regions such as European Countries and Central Asian countries have transitioned from a trade deficit in pre-Pandemic years to a trade surplus in the post pandemic years, highlighting India’s potential to become an export hub in the coming times. India’s trade surplus also increased with regions including North America, Other European Countries, South Asia, North Africa, and East Africa.
The proactive and effective measures and policy reforms undertaken by the government including the improvement in logistics, massive investments in exports infrastructure, simplification of indirect tax regime, single window clearances, lesser human interface, have significantly enhanced the ease ofexports from the country.
India’s exports to the Southern African Customs Union (SACU) has surged from an average growth of 5% in the pre pandemic years to 32% in the post pandemic years due to strong exports growth withNamibia and South Africa. India’s exports increased to East Africa at 27% due to increased exports toSeychelles and Tanzania rep, exports to North African region grew from 8% to 17% and West Africa from 13% to 16% from the pre to post pandemic years. (from news feeds)
