India commissions study to analyse global market to boost exports

Posted By: Religare
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India is looking to tap certain sectors in the global market where China is fast losing its export competitiveness due to rising wages, and have commissioned a study for a detailed understanding of the issue, reported PTI.

The move is aimed at boosting the country's exports and containing the ballooning current account deficit (CAD), said the media reports.

"We have commissioned a rapid analysis of the sectors which China has been vacating...," Commerce Secretary S R Rao said here at a function.

India's exports rose for the second straight month by 12.97 per cent to USD 26.14 billion in August, while the trade deficit narrowed as gold imports fell.

China, whose economy is mainly driven by exports, is expected to lose price competitiveness in the international market because of rising wages in that country, report said.

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