{"id":227055,"date":"2023-02-17T21:09:23","date_gmt":"2023-02-17T15:39:23","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=227055"},"modified":"2023-02-20T12:39:38","modified_gmt":"2023-02-20T07:09:38","slug":"shuffling-feet-on-foreign-trade-and-policy-responses","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/shuffling-feet-on-foreign-trade-and-policy-responses\/","title":{"rendered":"Shuffling feet: On foreign trade and policy responses"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on an article\u00a0<strong>\u201c<\/strong><strong>Shuffling feet: On foreign trade and policy responses<\/strong>\u201d published in <strong>The Hindu<\/strong> on\u00a0<strong>17<sup>th<\/sup> February 2023<\/strong>.<\/p>\n<p><strong>Syllabus: GS 3 \u2013 Indian Economy<\/strong><\/p>\n<p><strong>Relevance: <\/strong><strong>changes in exports and imports<\/strong><\/p>\n<p><strong>News<\/strong>: The article discusses the changing trends of export and import in India.<\/p>\n<h2><strong>How has export and import been in India for 2023?<\/strong><\/h2>\n<p>The exports from India got a disappointing start in 2023. Merchandise shipments fell 6.6% in January.<\/p>\n<p>Engineering exports fell 10%; pharma products lost momentum along with 14 other products.<\/p>\n<p>However, <strong>with the exports, even imports are also falling down.<\/strong><\/p>\n<p>If this trend continues, <strong>India\u2019s current account deficit<\/strong> for 2022-23 will be lower than the projected CAD by most of the agencies.<\/p>\n<h2><strong>What are the reasons behind slowing export and import?<\/strong><\/h2>\n<p>The drop in imports suggests that <strong>domestic demand growth is decreasing<\/strong> while the decline in export is due to the <strong>global economic slowdown<\/strong>.<\/p>\n<p>India\u2019s weaker trade balance for the fiscal year 2022-23 was due to the two reasons- <strong>a)<\/strong> a slowing world economy hurting exports and <strong>b)<\/strong> resilient domestic demand shoring up imports.<\/p>\n<p>However, these reasons seem to be diminishing.<\/p>\n<h2><strong>What is the way ahead?<\/strong><\/h2>\n<p>Economic growth is expected to increase in the major economies.<\/p>\n<p><strong>For example, <\/strong>U.S. retail sales grew faster than expected in January and the U.K.-based trading businesses now expect an increase int the turnover this March.<\/p>\n<p>These will bring opportunities for India\u2019s export markets. Therefore, industry bodies and the government must work together to help exporters and export grow by capturing these global opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on an article\u00a0\u201cShuffling feet: On foreign trade and policy responses\u201d published in The Hindu on\u00a017th February 2023. Syllabus: GS 3 \u2013 Indian Economy Relevance: changes in exports and imports News: The article discusses the changing trends of export and import in India. How has export and import been in India&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/shuffling-feet-on-foreign-trade-and-policy-responses\/\">Continue reading <span class=\"screen-reader-text\">Shuffling feet: On foreign trade and policy responses<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10498],"class_list":["post-227055","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704919127},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/227055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=227055"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/227055\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=227055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=227055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=227055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}