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  • UPSC World

    24 November 2022 at 7:30 PM

    • Currently, the main reason for the decline in India’s exports is weaker global demand.
    • Global economic growth is slowing rapidly as a result of consistently high inflation in developed countries, which has resulted in a sharp tightening of monetary policy by almost all central banks.
    • Going forward, the weakness in India’s exports is likely to sustain and in turn, will have a dampening effect on the growth of India’s gross domestic product (GDP).
    • Did you know India exports nearly $400 bn worth of products but ranks poor 20th in total export by country?
    • Its top export item is Refined petroleum.

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