India’s Foreign Trade during 2015-16

A remarkable development in India’s trade front since 2012 -13 is that India’s trade -both exports and imports are declining. The fall in trade is mainly due to the global slow down.
The stress on the external sector is reflected in the country’s trade figures. Both exports and imports have declined during 2014-16; trade deficit also has fallen.
Exports came down from $318 bn to $ 266 bn in 2015-16. Similarly, imports came down from $502 bn in 2012-13 to $266 bn in 2014-16. The trade deficit fell to $118 bn.