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, according to an analysis by the commerce ministry. It added that these commodities captured a greater number of markets in the Central Asia, Africa, and European regions. "Together, exports to these markets capture 5 per cent of India's total exports of 42 principal commodities to the world. Imports contracted 6.71 per cent to USD 561.12 billion, leaving a trade deficit of USD 207.2 billion in the 10-month period of this fiscal as against USD 229.37 billion in April-January 2022-23. War in Russia-Ukraine and Israel-Hamas too is impacting the global exports and imports.

Source: The North Africa Journal February 25, 2024 07:02 UTC