The study, which included 10 of India’s key trading partners, also found that India-based exporters could boost exports to these 10 markets by an estimated USD 17 billion, bringing the total bilateral trade opportunity to USD 38 billion. As economies and businesses look to recover from the impact of COVID-19, the study highlights the markets and sectors with new opportunities to grow trade. Businesses in the US, Malaysia, Indonesia, Singapore, and the UK have the greatest opportunity to increase their exports to India.
The US could increase exports by USD 5.7 billion annually, with the financial services sector offering the most significant potential for growth. The ASEAN region has a combined opportunity of USD 10.7 billion for exporters across Indonesia, Malaysia, Singapore, Thailand, and Vietnam. In South Korea, the spotlight is on the USD 288 million opportunity to increase automotive exports. Meanwhile, the UK, France, and Germany could increase exports to India by a combined USD3.2 billion, according to the official press release.
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