Demonetisation and the subsequent dip in consumption resulted in a dip in the country's EXIM container trade volume growth for the January-March this year, a report said today. This is largely due to a "short-term" decline in imports on the note ban effects, the AP Moller Maersk Trade Report said, adding the outlook is better. "India's EXIM trade forecast remains strong and we expect growth in imports in Q2 as the effects of demonetisation are expected to fade away," he added. Imports of cash-sensitive products such as furniture, electronics and automobiles from China, United States and Germany have been hit by negative growth owing to "evolving economic reforms", the report said in a reference to the note ban exercise. This impact of note ban led to a situation where exports outpaced imports, it said, adding despite the dip the country's performance was stronger than the global trade's 4-5 per cent growth in last two quarters.

Source: dna June 20, 2017 10:07 UTC