India’s export index to rise five points to 54 in 1st quarter of 2020: DHL Barometer

The DHL Global Trade Barometer predicts mildly positive growth for Indian trade with the country’s index rising five points to 54. According to data from the DHL Global Trade Barometer released by DHL, the positive outlook is driven primarily by an uptake in ocean imports of basic and industrial raw materials and chemicals and products, coupled with a gradual revival in air exports of consumer fashion goods. In total, ocean trade grew by 10 points, maintaining India’s positive outlook even as air trade forecasts experience relative weakness. The strong growth in ocean import and export will sustain India’s trade growth over three months in 2020.
“India has the strongest trade forecast this quarter and the highest index value of all countries in the latest Global Trade Barometer survey, followed closely by the United Kingdom and Japan,” said Niki Frank, CEO, DHL Global Forwarding India. He adds, “This highlights the underlying potential of India’s economy, which will benefit from the government’s plan to invest US$ 1.39 trillion (€ 1.26 trillion) in infrastructure projects. The country’s commitment to establishing itself as a strategic maritime hub with initiatives and investments in coastal infrastructure appear to be supporting the index’s positive ocean trade outlook and will likely also contribute positively to longer-term trade growth.”