labels: economy - general, trade
India''s exports rise 14-fold over trade partners'' GDP growth: Assocham study news
26 October 2006

Mumbai: India''s exports have recorded a 14-per cent growth over every one per cent growth in the GDP of its trade partners, according to an Assocham Eco Pulse (AEP) study. The study is based on India''s exports to countries such as the US, the UAE, Singapore, China and Germany and the growth in the real GDP of these countries.

The study takes into account figures of India''s exports and GDP growth of the trading partners for the past four financial years. The GDP of the top seven trading partners, which account for the largest share of the country''s exports, grew even larger by 4.5 per cent, leading to an overall increase of 62 per cent in exports to these nations, the study states.

"Our study reinforces belief in the increasing integration of Indian economy with the rest of the world. Any positive or negative change in economic growth has a direct and consequential impact on the Indian exports," Assocham president Anil K Agarwal said in a release.

Export demand in the US and the UAE, the biggest markets of Indian merchandise so far, has responded five-fold to the increase in their real GDP. A 3.3 per cent increase in the GDP of the US has increased Indian exports up by 18 per cent in the current financial year.

 

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India''s exports rise 14-fold over trade partners'' GDP growth: Assocham study