India’s exports to outpace China by 2025: HSBC
Global banking major HSBC on Tuesday forecast a strong growth for India’s export segment which is projected to outpace China in the period between 2025 and 2050.
As per new forecasts in HSBC’s report ‘Trade Winds’ — the merchandise exports from India are expected to grown by an average of six percent a year in the period between 2025 and 2050.
The report commissioned by HSBC Commercial Banking and compiled by Oxford Economics pegs China’s exports to grow just under five percent a year for the period under review.
Currently, the slowdown in global demand scenario and a dip in prices of petroleum products has dented India’s exports. India is a major exporter of refinery products.
The country’s goods shipments were down for the eleventh straight month in October with merchandise exports declining by 17.53 percent to $21.35 billion from $25.89 billion worth of goods sold abroad during the corresponding month of last year. Read More…