This resulted in a services trade balance of USD 82.6 billion, higher than in the same period last year. However, sequential growth in services exports and imports has been modest
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The widening trade deficit poses a concern, especially with the US imposing higher tariffs on Chinese imports, potentially leading to a surge in Chinese exports to Asian markets, including India
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India’s exports to regions and regional groupings have not increased at the same rate during pre to post-pandemic years
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Higher capacity utilisation will improve the operating efficiency and profitability of the new plants this fiscal
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The government though did not give any reasons behind such move.
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