In­dian economy on up­ward tra­jec­tory

In­dia’s economy holds the bright­est growth prospects of the world’s seven largest economies, ac­cord­ing to re­sults from the Global Trade Barom­e­ter (GTB) from lo­gis­tics com­pany DHL.

Cargo Talk - - Aviation -

GTB an­a­lyt­ics as­signed In­dia the high­est growth in­dices of the seven coun­tries as­sessed, due to strong and sus­tained in­creases in both air and ocean freight in and out of the coun­try. The coun­try’s trade in ma­chin­ery and high-tech goods con­tin­ues to un­der­pin its growth, while in­creased im­ports of in­dus­trial raw ma­te­ri­als point to an ex­tended pe­riod of trade de­vel­op­ment for the na­tion. “More than any of the world’s largest economies, In­dia’s ma­jor in­dus­tries have dis­played lev­els of re­silience and growth that will buoy busi­ness con­fi­dence in the shortto-medium-term,” said Ge­orge Law­son, Man­ag­ing Di­rec­tor, DHL Global For­ward­ing In­dia.

“In­dia’s economy has built up ter­rific mo­men­tum in re­cent times: Since 2008, its GDP has risen ev­ery sin­gle year to US$2.44 tril­lion last year, more than dou­ble the lev­els of a decade ago. As the coun­try con­tin­ues to in­vest heav­ily in in­fra­struc­ture, we ex­pect it to con­tinue its up­ward tra­jec­tory for the fore­see­able fu­ture.”

Ac­cord­ing to the GTB, busi­nesses in In­dia can ex­pect ocean trade to fur­ther im­prove on al­ready-high lev­els, largely thanks to de­mand for com­modi­ties and in­dus­trial ma­te­ri­als from overseas. Air freight de­mand is pro­jected to re­main sta­ble at its cur­rent highs, sus­tained by growth in ma­chin­ery and tech­nol­ogy im­ports. Both In­dia’s air and ocean freight fore­casts proved stronger than those of any other coun­try in the GTB -- in large part due to ev­ery ma­jor sec­tor mak­ing a pos­i­tive con­tri­bu­tion to the coun­try’s trade.

More than any of the world’s largest economies, In­dia’s ma­jor in­dus­tries have dis­played lev­els of re­silience and growth

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