“Make in India” Working as Trade Growth Slips — Panjiva
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“Make in India” Working as Trade Growth Slips

Energy - Conventional 272 Energy - Crude Oil 194 Energy - Refined Oil 149 India 283 Info Tech - Tech Hardware 378 Trade Balance 657

India’s international trade growth slowed in November to just 2.9% on a year earlier vs. 14.9% in the prior three months and the slowest since Dec. 2016. Both imports and exports fell, though a 3.0% drop in non-oil imports – oil rose 41.3% on higher prices and demand – suggests that “Make in India” tariffs designed to promote domestic manufacturing are working. Indeed imports of electronics, where most tariffs are focused, rose by just 0.3%. The slowing growth overall mirrors a similar trend seen in South Korea and China and may extend once the recent drop in oil prices takes...

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