Indian Goods Exports Face Growth Pangs

With a post-covid global surge in demand subsiding, many pockets of goods exports from India are facing growth challenges. Even as total goods exports from India rose 6% to about $447 billion in 2022-23, export of goods other than petroleum products and gems and jewellery have effectively remained flat at $315 billion, an analysis of trade data shows. Petroleum products saw a 40% jump in exports as Indian refiners imported Russian crude, processed it and sent it to the West.