India's export uptick led by East Asian economies; China leads with 78% growth: Report
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Update time : 2020-08-22 17:38:44
While India focuses on reducing its import-dependence on China, it may be the main export destination for now as exports to other major economies like the United States lag as they struggle to contain the pandemic.
Exports to China, which flattened the Covid-19 curve, grew 78% year-on-year in June. In contrast, exports declined to western economies like the US, Brazil and the UK, which struggle to contain the infection, according to a CRISIL report on Friday.
India’s exports have shown a massive improvement sequentially, as the yearly contraction narrowed to -10.2% in July from a severe -60.2% in April, it said.
