Monday, October 19, 2015

India's Exports/Imports Plunge By 25%.......ANOTHER PESKY FACT!

India's Exports/Imports Plunge By 25%

The Latest Evidence That Global Trade Has Collapsed.

India's exports of goods shrank by nearly a quarter in September from a year ago, falling for a 10th straight month and threatening Prime Minister Narendra Modi's goal of boosting economic growth through manufacturing.

India's economy, Asia's third largest, is mostly driven by domestic demand, but the country has still felt the effects of China's slowdown. Exports have dropped and consumer and industrial demand for imports has weakened.

Imports fell 25.42 percent in September from a year earlier to $32.32 billion. Exports stood at $21.84 billion, according to data released by the Ministry of Commerce and Industry on Thursday.

"We see no signs of revival in exports in the near future," said Ajay Sahai, director general of the Federation of Indian Export Organisations. "We will be lucky if exports could even touch $265 billion to $270 billion for the whole year."

Both exports and imports fell by a quarter. That's right, by a quarter.

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