India's contribution to global trade has seen significant growth over the last two decades, with its share in both exports and imports doubling during this period, according to a report by the National Stock Exchange (NSE).
The report revealed that India's share in global merchandise exports rose from 0.9 per cent in 2005 to 1.8 per cent in 2023, while its share in services exports more than doubled from 2 per cent to 4.3 per cent.
Overall, India's export share grew from 1.2 per cent in 2005 to 2.4 per cent in 2023. This growth has been driven by factors such as robust trade agreements, a diversified export portfolio, improved logistics infrastructure, and government initiatives like the Make in India campaign and the Production-Linked Incentive (PLI) scheme.
This story is from the December 27, 2024 edition of The Business Guardian.
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This story is from the December 27, 2024 edition of The Business Guardian.
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