India’s containerised exports grow by 6%
Despite the fact that the rupee has been appreciating, there has been a 6% growth between January’19 & March’19 in India’s containerised exports, according to a report by Maersk India. Meanwhile, imports declined 2.2% over the same period. The overall export-import trade for the sector grew at 3% in the quarter. The highest growth (17%) was registered in exports to the US, sourced from east India. The north and west India indulged in the trade with European and Mediterranean countries.
The key drivers of this growth are refrigerated cargo, engineering and pharmaceuticals for the eastern region; and plastic, rubber, textile, vehicles and vegetables for the west. At the global level, containerized trade has moderated due to fall in private consumption, trade risks, financial volatility and political uncertainties.