Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday.
India’s merchandise export rose 2.1 per cent to the European Union (EU) in 2023 despite headwinds being faced by large developed markets like the EU and the UK due to high cost of living, weak external demand, and monetary tightening, the commerce ministry official said.
“India’s export trade expansion has been impressive inspite of global challenges in 2023,” the official said.
India’s merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria.
“The growth points towards India’s trade resilience and growth despite prevailing uncertainties and deceleration of the economies in Europe,” the official added.
Similarly, in Latin American countries, India’s exports registered high growth in 2023 in Cuba, Uruguay, Paraguay, Guyana, Peru, Mexico, and Guatemala.
