At a time when global trade is facing geo-political uncertainties, India’s exports of goods like automobiles and gold jewellery have ventured into uncharted territories of Central Asia, Africa and Latin America, as per an analysis by the commerce ministry.
The analysis has shown that India has penetrated into what are termed as “absolutely new markets” in regions such as Africa, Central Asia, Latin America and North America during April-December 2023. The “absolutely new markets” refer to areas where India did not see any export during April-December 2022, but healthy growth of certain principal commodities like motor vehicles, two- and three-wheelers, petroleum products, sugar, gold and other precious jewellery were recorded in April-December 2023.
(You can now subscribe to our Economic Times WhatsApp channel)
