Resilience refers to the ability of individuals, communities or systems to effectively adapt to and bounce back from adversity, trauma or stress. Resilience also often encompasses qualities like flexibility, perseverance, optimism and the capacity to learn and grow from experiences of hardship. It is not just about enduring difficulties, but also about thriving despite them. The story of Indian foreign trade during the last five years is all about resilience.
At a time when the WTO has lowered the global trade growth forecast to only 0.8% this year, down from the 1.7% forecast in April, India’s share in global exports is poised to sharply rise from 1.8% in 2022 to 4.5% by 2031, according to a recent Morgan Stanley report. No wonder, India’s exports in January 2024 are estimated to be $69.72 billion, a growth of 9.28% over January 2023. Imports in January 2024 are estimated to be $70.46 billion, a growth of 4.15% over January 2023.
https://www.newindianexpress.com/thesundaystandard/2024/Feb/18/how-foreign-trade-is-withstanding-strong-global-headwinds
How foreign trade is withstanding strong global headwinds
