With improvement in supply, exports will pick up in the second half of the financial year

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Mumbai: Despite the moderate slowdown in America and Europe, with improvements in the supply chain, recovery in India's exports can be seen from the last 6 months of the next financial year. India's exports are currently approaching an inflection point. With Chinese markets booming again, the situation has become favorable for India.

The decline in exports is set to come to an end, and the last six months of the next financial year are likely to see a gradual pick-up in exports, said a report by Fitch Ratings.

India is striving to increase its share in the global supply chain. There are early signs of this. An increase in share in the global supply chain will boost India's exports, said Jeremy Zuck, director at Fitch's Asia Sovereign Ratings in an interview to a news agency.

According to trade statistics released by the country's Ministry of Commerce and Industry, the country's merchandise exports fell by 8 percent in February, resulting in a fiscal deficit of $17.43 billion.

We are expecting a moderate slowdown in the US and Europe, but by FY2024 the worst of the recession will begin to end and we will be on the path to recovery as far as exports are concerned, he added.

Rapid reopening in China after measures related to Corona will support India in increasing its exports.

Exports will increase due to global demand. As far as adherence to green energy is concerned, India has started making efforts towards it, but there is still a lot to be done on this front.

As a result of declining global demand, exports have seen a modest decline. Due to fall in global demand, exports of not only India but also other countries of the world will slow down in financial year 2024.


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