Indian exports grow fastest in Asia |
The only major Asian economy that`s grown its export share since the start of the tariff wars in 2018 is the one with the fewest trade links to China. India`s share of world exports rose to 1.71 per cent in the first quarter of 2019 from 1.58 per cent in the fourth quarter of 2017. The share of every other economy among Asia`s 10 biggest exporting nations fell in the same period. Part of the reason for India`s outperformance is that it`s not as integrated into global manufacturing supply chains as peers, which means exporters are cushioned from rising trade tensions in the region. Trade tensions between the US and China have given India an opportunity to ramp up exports to both countries. Data from India`s Ministry of Commerce show that India`s exports to the US grew at the fastest pace in six years in the year ended March 2018, while exports to China surged 31 per cent, the second highest annual pace of growth in more than a decade.
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