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Exports boom chocked by shipping shortage

India’s merchandise exports rose to a record high of $35.2 billion in July 2021 but freight cost has been firming up since last year due to supply disruptions. In key India-US routes costs are now up by 500 per cent to $15,000 for a 40-foot container
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India’s merchandise exports rose to a record high of $35.2 billion in July 2021. Leave alone Covid-hit 2020, the exports were nearly 34 per cent more than 2019.

Together with other indicators, it might mean that India is back on the V-shaped recovery path, which it was following since the dramatic contraction in June 2020 quarter.

Source : Swarajya

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