BMI View: The five year outlook for the Indian economy remains positive with steady trade growth on thehorizon over the short and medium-terms. Growth in India will be driven by a number of factors including asteady increase in domestic demand, rising disposable incomes and an uptick in private consumption levels.Furthermore, the Make-in-India campaign will bolster manufacturing, and exports of mining and metalswill also perform strongly. India performed very well in August, with exports rising to USD23.81bn, up10.29% y-o-y, on the back of robust growth in engineering, textiles, petroleum, chemicals andpharmaceuticals. A number of factors, including a potential free trade agreement with the European Unionand a post-Brexit UK, along with ever-closer ties to Japan all bolster the medium and long-term outlooks.
Latest Updates And Key Forecasts
Total real trade in India is set to grow by a stable 4.5% in 2017, with exports growing by 5.0% andimports by 4.0%.
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