India's export growth has been largely stagnant over the last eight years. Here are some hard facts.
Six years ago we exported goods and services worth nearly USD 250 million and this has largely been the range since 2012. Last year, India’s exports amounted to USD 243 billion.
On a monthly basis, the numbers are volatile. For January exports dropped to USD 24 billion. In September last year it was just under USD 29 billion.
In a bid to shore up exports and lift domestic manufacturing, the government hiked customs duties on a slew of products in the Budget. The Centre has defended the move saying it's not protectionist and that the government is well within the conventions of the world trade organisation.
So is customs duty hike the best way to bolster Make in India. In an interview to CNBC-TV18, Montek Singh Ahluwalia, Former Deputy Chairman of the erstwhile Planning Commission discussed it at length.
Source: moneycontrol.com