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Indias Foreign Trade
Performance During 2004-05
Exports:
Exports grew by 20.4% in 2003-04 and this strong export performance indicates Indias growing export competitiveness, especially in view of the gradually appreciating nominal value of the rupee vis-à-vis the US dollar during this period. ... During the second half of the year there was a good growth in the exports because of improved global growth and accompanying acceleration in world merchandise trade. ... 83
Source: CMIE (Centre for Monitoring Indian Economy)
Indias main imports during 2003-04 were from Asia (excluding Middle East) (25. ... ASEAN countries with which India has a trade deficit account for around 9% of Indias total trade. ASEAN + 3 (China, Japan and Korea) countries have emerged as Indias dominant trading partners, accounting for about 28% of Indias total merchandise trade, compared to trade share of 19. ...
Trade Deficit:
The trade deficit, which reflects changes in the relative growth rates of exports and imports, has shown a widening trend in the recent years despite acceleration of exports. ... Although India continues to have trade deficit, the overall Current account and Balance of Payments position is favourable with significant surplus. ... World trade, according to WTO, would witness a 7. ... 6% of the US economy in 2004 along with the expected improved economic situation of Asian countries should provide a boost to Indias exports in 2004-05.
Indias exports in dollar terms have generally grown by a multiple of 2-3 of the world output growth.
Approximate Word count = 1192
Approximate Pages = 4.8
(250 words per page double spaced)
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