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As per the ministry, the government has made concerted efforts to control the high external sector vulnerability inherited from the UPA government. The average current account deficit to gross domestic product has come down significantly to 1.1% between FY15-33, relative to an average of 2.3% of GDP between FY05-14. The ministry highlighted that India was almost 100% reliant on imported telecom equipment when the world was closing in on 3G. ....
Piyush Goyal: India sustains export growth despite global challenges arising from conflicts like the Israel-Hamas war. The Budget lays a strong foundation for economic growth. Geopolitical complexities and conflicts reshape globalization. Wars and crises disrupt global supply chains, impacting India s exports and logistics. The Budget focuses on every section of society, with announcements on e-mobility promotion and increased infrastructure spending, providing more opportunities for business and domestic industry. Finance Minister Sitharaman s priority is economic policies that foster growth and contribute to India becoming a developed country by 2047. ....
India sustains export growth despite global challenges arising from conflicts like the Israel-Hamas war. The Budget lays a strong foundation for economic growth. Geopolitical complexities and conflicts reshape globalization. Wars and crises disrupt global supply chains, impacting India s exports and logistics. The Budget focuses on every section of society, with announcements on e-mobility promotion and increased infrastructure spending, providing more opportunities for business and domestic industry. Finance Minister Sitharaman s priority is economic policies that foster growth and contribute to India becoming a developed country by 2047. ....
India s exports are expected to grow by around 12%, resulting in a global export share of around 4% by 2030, or $1.6 trillion. However, weak global growth in the medium term, further supply chain fractures, and rising protectionism could challenge the strategy. India has been a key beneficiary of the "China+1" strategy, with the tech-intensity of exports gradually increasing. ....
India’s streak has been led by robust GDP growth, a string of strong PMI numbers, moderating inflation, and recovering exports growth relative to its emerging market peers ....