Any hopes of a boost to the economy through an improvement in external demand seem to be fizzling away. The chart shows that after a brief flare-up between February and April this year, caused by a rebound in commodity prices, the year-on-year rate of growth in merchandise exports has waned equally rapidly. Note that July’s tepid growth in exports comes on top of a negative rate of growth in the year-ago period. Data for India’s services exports for the month of June were also released on Monday. They showed that services exports fell by 0.3% compared to a year ago.

Source: Mint August 14, 2017 21:56 UTC