India’s exports improve amid trade war
According to recent Bloomberg reports, India is the only major Asian economy that has seen its export share grow in the period since the beginning of trade wars (2018). India’s share of exports to the world rose by 1.71% in Q1 2019 from 1.58% in Q4 2017. The findings also suggest that the share of every other economy among Asia’s 10 biggest exporting nations plunged during the same period.
The fact that India is not as integrated into global manufacturing supply chains as peers cushioned its exporters. “Our biggest advantage is that our product basket and market basket are both quite diversified,” stated Rakesh Mohan Joshi, a professor at the Indian Institute of Foreign Trade in Delhi. This has enabled India to export its goods to both US & China.