External Sector

Balance of Payments (BoP)

India’s BoP position improved from US$ 412.9 bn of forex reserves in end March, 2019 to US$ 461.2 bn as on 10th January, 2020.

Global Trade

In sync with an estimated 2.9% growth in global output in 2019, global trade is estimated to grow at 1.0% after having peaked in 2017 at 5.7%.

• India’s merchandise trade balance improved from 2009-14 to 2014-19, although most of the improvement in the latter period was due to more than 50% decline in crude prices in 2016-17.
• India’s top five trading partners continue to be USA, China, UAE, Saudi Arabia and ....