Home INDIA India’s export basket skews towards services, pulls down trade deficit

India’s export basket skews towards services, pulls down trade deficit

India’s export basket skews towards services, pulls down trade deficit
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India’s export basket is undergoing a silent transformation, a trend that explains why the services sector, which accounts for about half of India’s gross domestic product (GDP), is doing better than other segments of the economy.

Latest official trade data released on Wednesday showed how export of services is growing at a robust pace, while that of merchandise has contracted marginally in the first four months of FY20.

Read more: https://www.livemint.com/news/india/how-india-s-export-basket-is-being-reset-1566033902099.html

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