Despite the uncertainty surrounding the global economy, India’s exports are anticipated to surpass USD 1.6 trillion this fiscal year, according to a report by economic think tank GTRI.
According to the Global Trade Research Initiative (GTRI), the USD 1.6 trillion would account for over 48% of India’s nominal GDP for the fiscal year ending March 2023, which is estimated to be USD 3.4 trillion.
According to GTRI co-founder Ajay Srivastava, the greater trade-to-GDP ratio also reflects the high level of trade openness that the nation maintains.
India’s international commerce is expected to surpass US$ 1.6 trillion this fiscal year: Report
