The exports riddle

India’s merchandise exports sector appears to be on steroids, defying even the logic of an economic slowdown. At a little over $8 trillion, global exports in the first half of 2011 grew by 22 per cent. Compared to that, India’s exports of merchandise goods, estimated at $153 billion in the same period, grew by a staggering 44 per cent. That’s not all. India’s exports gained fresh momentum during the third quarter of 2011, when the growth rate jumped to 54 per cent, proving wrong even the government’s forecasts of an exports slowdown from August onwards.

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