​Chapter 4: External Sector - Stability amid Plenty

  • India’s external sector remained strong amidst on-going geopolitical headwinds accompanied by sticky inflation.
  • India’s rank in the World Bank’s Logistics Performance Index improved by six places, from 44th in 2018 to 38th in 2023, out of 139 countries.
  • The moderation in merchandise imports and rising services exports have improved India’s current account deficit which narrowed 0.7 per cent in FY24.
  • India is gaining market share in global exports of goods and services. Its share in global goods exports was 1.8 per cent in FY24, against an average of 1.7 per cent during FY16-FY20.
  • India’s services exports grew by 4.9 per cent to USD 341.1 ....
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