Several labour-intensive sectors such as natural and cultured pearls, lac, gums and resins, manmade filaments and articles of leather have seen a decline in India’s share in global exports in the recent years as compared to 2015. [...] The increase in imports was driven by a significant y-o-y rise of 30.38% in aircraft, spacecraft, and parts, followed by a 19.60% increase in animal or vegetable fats and oils, and a 13.96% growth in mineral fuels. [...] The trade share for natural and cultured pearls has decreased due to the scarcity of natural pearls and the rising demand for South Sea pearls, especially in China. [...] The deceleration in China’s economic rebound, especially in the construction sector, contributed significantly to the softening demand for industrial metals, leading to a 3.9% decline in the Metal Index over the same period. [...] Additionally, trade routes like the Suez Canal face the risk of delays and increased costs due to the instability in the region.
Mentioned Organizations
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