Indian export growth driven by the Middle East and China: Maersk India

“India’s containerised exports with the world witnessed a stable growth of six per cent in the first quarter of 2019 propelled by robust performances in refrigerated cargo, engineering and pharmaceutical sectors, while imports declined slightly in the same quarter registering a market growth of -2.2 per cent in Q1,” states the Maersk India Trade Report Q1 2019. The import demand was buoyed by pharmaceuticals, metal, appliances and kitchenware, paper, chemicals and fruit & nuts, mainly from northern Europe, South Asia, China, and Russia. Exports were driven largely by the East and West of India, which contributed double digits to the growth, with commodities like plastic, rubber, textile, vehicles, and vegetables as the key drivers.
Steve Felder, Managing Director, Maersk South Asia, said, “Considering the tensions in the global trade environment, we are off to a positive start to 2019 on exports, and the market is expected to strengthen. Indian exporters today are expanding their geographical range and product diversification, with a visible shift towards higher value-added manufacturing and technology-driven items. Exports have remained strong even as the rupee appreciated against the dollar, which shows a strong demand for Indian exports.”