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US, China, UAE drive India's first export contraction in nearly 2 yrs

The three nations that saw positive growth in exports were the Netherlands (21.6 per cent), Singapore (24.8 per cent), and Brazil (57.7 per cent)

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October trade data released on Tuesday showed that India’s merchandise exports contracted to its lowest level in 20 months

Shreya Nandi New Delhi

4 min read Last Updated : Nov 17 2022 | 12:36 AM IST

Exports to seven of the top 10 destinations of India, including the US, the United Arab Emirates (UAE), and China witnessed contraction in October, leading to the country’s overall outbound shipments dipping for the first time in two years, according to the data compiled by the Department of Commerce.

These 10 nations have a share of 47 per cent in India’s overall exports.

The three nations that saw positive growth in exports were the Netherlands (21.6 per cent), Singapore (24.8 per cent), and Brazil (57.7 per cent). The US, which has been India’s largest export market for a decade, saw

Topics : USA UAE China Exports Trade exports Indian exports

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