Indias export growth likely to touch 7% in FY2016: Report
The Dollar Business Bureau As global growth momentum improves and moderating inflation boosts competitiveness, India’s export growth is expected to be at 3.2% for FY2015 and might inch up to 7% in FY2016, said Asian Development Outlook (ADO) 2015, an annual publication of the ADB (Asian Development Bank). In FY 2016, the current account deficit will expand to 1.5% as recovering oil prices raise oil imports. Rising industry and investment will raise demand for imports other than commodities, bringing overall import growth to 5%. Further growth recovery in the advanced economies would boost exports, and petroleum exports would benefit from higher oil prices, the report added. Stating that the government investment in infrastructure for energy, transport and industry is ...
